The people and the governments of the PIIGS countries (Portugal, Ireland, Italy, Greece and Spain) are preoccupied. They are extremely busy, not at work, but watching and enjoying football matches.
The rest of the world is busy scrambling to do something to prevent their financial exposure to the PIIGS countries from blowing up in their faces and lead to global meltdown.
Now you have an idea about the difference between a lender and a borrower....
My thanks to Mr. Abhik Sengupta for this piece