From the WSJ this morning:
Buying Bonds for Love of Country .
By DAVID ENRICH and SARA SCHAEFER MUñOZ
LONDON—Unable to issue debt at affordable prices to professional investors, European governments and banks increasingly are turning to their citizens and customers for help.
Through post offices and bank branches, governments and financial institutions in struggling euro-zone countries are selling more bonds directly to individual retail investors.
Translation, professional investors know that our bonds aren’t worth much but maybe the average person won’t know any better.
What happens when they run out of individual retail investors?