Bulgaria Seccumbs...

Well...  We talked in several previous posts about how the euro issue isn't quite done yet.  Devaluation is a very real threat and when devaluation of currencies (de facto trade war) doesn't work....  bad things can happen. 

We've had several canary's fall down dead in the coal mine, and no one is around to pay attention.   Everyone is in another tunnel, congratulating themselves on a job well done.

While the euro crisis has all but faded from the collective conscious of the media, it still remains a very real threat.  One that bears watching.  Closely.

Bulgaria succumbs to euro deflation curse

Courtesy of the Telegraph.co.cuk

Another euro-pegged government defending an overvalued exchange rate bites the dust, a reminder that the underlying economic and social disaster across the Europe’s Arc of Depression is still getting worse.