Wednesday, February 17, 2010
Euro on the way to total collapse ?
The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday. Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc. The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a 'double-dip' recession in the embattled zone.
'The euro's a success': Peter Mandelson said at Downing Street on Thursday. Maybe he should be jokingly referred to as the Jonah of the Labor party.
IMO: Seems to me that a global debt bomb is inevitable following Barack Obama's dealings with US bankers; the US could have, eventually, sorted out the debt crises with inspired leadership. Obama is not an awful president so far, but no better than average. His supporters had hoped for more. As for that, SocGen itself has seemed a bit dodgy lately, for example in some of its dealings with India.
'The euro's a success': Peter Mandelson said at Downing Street on Thursday. Maybe he should be jokingly referred to as the Jonah of the Labor party.
IMO: Seems to me that a global debt bomb is inevitable following Barack Obama's dealings with US bankers; the US could have, eventually, sorted out the debt crises with inspired leadership. Obama is not an awful president so far, but no better than average. His supporters had hoped for more. As for that, SocGen itself has seemed a bit dodgy lately, for example in some of its dealings with India.
# posted by uv : 5:26 AM
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