Wednesday, November 09, 2011

The End of the Eurozone Is Nigh

Well, that's Mish's opinion, but he's certainly not alone.

Realization [that] the Eurozone is no longer tenable is at long last at hand. In fact, "intense discussions" have been underway for months but are just mow admitted to by senior EU officials.

Snarky little chop here:

If France wants to stay in the Euro, let them. They can have the ECB as well. Then the ECB will print money to bail out the French banks (just as French president Sarkozy wants).

But he's right.  All three Big French Banks are in deep trouble.

1 comment:

J. Strupp said...

As are the Germans.

The real questions have been for some time: How orderly will this break up be and to what extent will the break up impact global markets?

Until those questions are answered, people should have their money parked right under their mattresses.