au revoir GREEK......
Greek euro tragedy nears final act
The Greek euro tragedy is reaching its final act: it is clear that either this year or next, Greece is highly likely to default on its debt and exit the eurozone. Postponing the exit after the June election with a new government committed to a variant of the same failed policies (recessionary austerity and structural reforms) will not restore growth and competitiveness. Greece is stuck in a vicious cycle of insolvency, lost competitiveness, external deficits, and ever-deepening depression. The only way to stop it is to begin an orderly default and exit, co-ordinated and financed by the European Central Bank, the European Union, and ... (full story)
- Posted: May 18, 2012 5:28am
- Submitted by:Category: Fundamental AnalysisComments: 36 / Views: 4,300