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View Diary: If the Euro fails. (282 comments)

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  •  European press is reporting rumors (4+ / 0-)
    Recommended by:
    jimreyn, G2geek, Cliss, Creosote

    that Germany and France are plotting a new "core-Eurozone" that would include only 8 members instead of the current 17.  The bond market is expected to react with hostility to such a plan, and it will be interesting to see what happens this coming week when Spain, Belgium, Italy and France hold bond auctions.

    This is all, I fear, going to come to a head sooner than later.  We won't have to wait long to find the answers to the question raised in this diary.  

    Meanwhile, Japan has a debt to GDP ratio that surpasses anyone in Europe, and the IMF is issuing warnings about them. Should Japanese banks be forced to curtail lending to other countries, it would immediately impact the U.K.

    Everything is interconnected now, and the further along in the game of pixie sticks you get, the more difficult it is to remove a piece without everything imploding.

    "In a nation ruled by swine, all pigs are upwardly mobile." Hunter S. Thompson

    by Keith930 on Sun Nov 27, 2011 at 01:04:55 PM PST

    [ Parent ]

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