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Re: Euro default?
Mega,
Super Euro seems more and more of a possible route things may take soon.
At first, Germany, France, Finland, etc. will get themselves out of this mess by creating their own currency, then other countries in the old Euro zone can default as much as they wish.
Thoughts? -
Re: Euro default?
Not sure how it will play out, Russia & Germany want to get into bed.....both would like to see the US leave the picture...........they only have to wait 5-10 years or so.
I think when "Helecopter Ben" drops $5 Trillion on the table......it will focus minds.
MikeComment
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Re: Euro default?
Seems the first signs that the fiction that these indebted States can ever pay all of their obligations is giving way to the reality that someone is going to have to take a loss. This will eventually become the norm everywhere. For example, at some point Dubai and its creditors are going to have to agree to haircuts also...Originally posted by Mega View PostComment
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Re: Euro default?
it never ceases to amaze me, how long it takes for people to get to the obvious. haircuts for bondholders?!? incredible! but i suppose i should be more impressed. after all, the u.s. still has a policy that no financial institution bondholders need muss a hair on their heads.
Comment
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Re: Euro default?
Agree. And amazingly this from a nation that on other occasions, such as the Latin debt crisis, was quick to deal with this issue [Brady bonds, in that example] and move on.Originally posted by jk View Post
But by the time this is all said and done, years from now, perhaps hair loss restoration potions will turn out to have been the best speculation and bull market for our times after all...Comment
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