When it comes to the Euro I say... one bank down 30,000 to go.
Also, I have been trying to figure out what a "fixed" Europe will be. Honestly, I am coming up with nothing believable. They only have one magic trick which is printing money. Or maybe they will get really lucky and the world economy will take off.
If Greece defaults, then it just puts the other countries at risk. If France bails out Dexia, then everybody just wonders "Who's next?". If all the banks get bailed out (the US model), then the Euro will go way, way down. The first driver will be all the printing and bailing money increasing the supply. The second driver will be the flight to safety. And still you will have to worry about sovereign default.
So what you have is crash or stagnate. I really can not imagine what "fixed" looks like. Or rather, I can not imagine it in any reasonable time frame.
Also, I have been trying to figure out what a "fixed" Europe will be. Honestly, I am coming up with nothing believable. They only have one magic trick which is printing money. Or maybe they will get really lucky and the world economy will take off.
If Greece defaults, then it just puts the other countries at risk. If France bails out Dexia, then everybody just wonders "Who's next?". If all the banks get bailed out (the US model), then the Euro will go way, way down. The first driver will be all the printing and bailing money increasing the supply. The second driver will be the flight to safety. And still you will have to worry about sovereign default.
So what you have is crash or stagnate. I really can not imagine what "fixed" looks like. Or rather, I can not imagine it in any reasonable time frame.