If the global economy were a hospital patient, you’d definitely find it in the Intensive Care Unit.
It’s not on life support just yet, but it certainly finds itself in an increasingly precarious position, due to the numerous negative factors swirling around the financial world.
One of these factors is something you might not be aware of, given the furor here in the U.S. It’s happening half a world away over in Eastern Europe and is just beginning to get some attention now.
So pack your bags and I’ll fill you in…
Pain In Prague And Poland
In Eastern Europe, the economic problems are two-fold…
1. The region is experiencing a similar downturn to the one in the U.S.
2. Local currencies are enduring a significant slide against the euro.
For example, the FOREX exchanges in Prague (Czech Republic) and Warsaw (Poland) have hit multi-year lows. And so-called “toxic foreign currency options” have sent the Polish Zloty
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