NEVER A LENDER BE !

Here are ”Sovereign debt as a percentage of GDP “figures for various countries, as provided by Times of India (July 15,2011):

• Japan   ………………….  220  %

• Greece   ………………..  142  %

• Italy   …………………….. 119  %

• Russia   ………………….. 99   %

• Ireland   …………………  96.1 %

• USA  ………………………… 91.6 %

• France  …………………….. 84.3 %

• Canada  ……………………  84  %

• Portugal  …………………… 83.3 %

• Germany  …………………  80  %

• UK  ……………………………. 77.2 %

• India  ……………………….. 69.2  %

• Brazil   …………………………66.1  %

• Spain  ………………………….60.1 %

• Taiwan  ……………………… 39.7  %

• S.Korea  ………………………30.9 %

• S.Africa ……………………….35.7 %

• China  ……………………….  17.7  %

Greece just managed to avoid a default of re-payments to its private creditors by getting them to ” agree “ to write-off  59 % of the debt !

Greece might have escaped going bankrupt by the skin of its teeth

Question is :

Will others be equally lucky ? Will the world see a financial meltdown ?  Or , is it only a question of when ?

Lenders , beware ! By lending recklessly ,you have become, the enemy # 1

With regards

HEMEN  PAREKH