The Eurozone can be thought of as a 2-tier confederation. The northern countries have stronger economies, have trade surpluses, and have lower debt to GDP. The southern countries – often referred to as the PIIGS (Portugal, Ireland, Italy, Greece, and Spain) – have been in and out of economic crisis after crisis for many years.
A few years ago, I was in preliminary contact with the government of Portugal. I prepared a 24 page report for them outlining how they could reverse the tailspin that the country was in.
One feature of my plan was for them to build up their holdings of Gold