The Debt Trap and a Way Out

It seems that once debt becomes part of your life, you almost have no chances of getting out of it. What is worse, you get even deeper into it, and whatever saving methods you try, they hardly ever work. There are hundreds of tips on how to cope with Debt: They tell you to shop wisely and be frugal; they advertise professional help and show happy faces who claim to have managed to get out of Debt and now live happily ever after; they offer bigger loans to pay off…

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EU’s Debt Solution

The European Union is trying to cope with its debt crisis by creating more debt. On May 10, the EU released $1 trillion in an attempt to save the euro, especially since there were fears that the debt depression in Greece would start spreading to other indebted countries. This step gave immediate results in the markets, and it recovered the euro to $US1.3. So far, this solution gives confidence to the governments that they would be able to pay off their debts. On the contrary, Song Seng Wun, an economist…

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