(Telegraph) Ambrose Evans-Pritchard—Europe’s nuclear brinkmanship with Greece is a lethal game

Posted by Kendall Harmon

The chief danger is not for Greece. It is for the rest of the eurozone. If the German political establishment is unwise enough to force Greece out of EMU on the assumption that the country is a special case, it will be disabused of this illusion very quickly.

Total debt levels are 100pc of GDP higher in Portugal, and the country has roughly the same current account deficit. The only difference is that Portugal began its austerity death cure later and has not yet had time to enter into the full vortex of debt-deflation and collapse. Give it a few more months.

Spain and Italy are 20pc overvalued against northern Europe....

Read it all.

Filed under: * Economics, PoliticsEconomyCredit MarketsCurrency MarketsEuroEuropean Central BankThe Banking System/SectorForeign RelationsPolitics in General* International News & CommentaryEurope--European Sovereign Debt Crisis of 2010GermanyGreece

0 Comments
Posted May 12, 2012 at 10:27 am [Printer Friendly] [Print w/ comments]
Registered members must log in to comment.




Next entry (above): Muslim Woman Bridges Faiths to Advance Progressive Goals

Previous entry (below): (Washington Post) J P Morgan losses reignite clash between Wall Street and Washington

Return to blog homepage

Return to Mobile view (headlines)