No surprise—probably the wave of the future. Think about it: the Government actually MAKES $$ by running up the debt! For a Liberal, that is Utopia.
I guess I’ll just start selling holes in the ground, as an investment vehicle.
Then charge a management fee for guarding it.
At least you’ll get your initial investment back!
All it means is that Western Socialist Democratic government is no longer of use to the market place. At a functional, or monetary level.
It is a self correcting problem that will only last for a very short time. Either the PIIGS will default or they wont. If they don’t default soon, investors won’t put up with negative interest rates anymore. If the PIIGS do default, then the euro collapses and interest rates return to normal.
Either way, problem solved.