Monday, February 9, 2015

Greek FM says euro will collapse if Greek exits...

That comment is that of a man pinned down with his back to the wall. He then naturally foresees disaster. Greenspan adds to the consternation of the market by predicting a Greek exit. Italy struggles to hive off its non performing assets which run into billions.

Preliminary estimates indicate that in January consumer prices fell by 0.6 per cent, and by 0.4 per cent in Italy; this does not just reflect the drop in energy prices, as even without this component inflation has reached an unprecedented low of under 0.5 per cent in the euro area.

" Italy is among the countries that are struggling hardest to make a start on the road to recovery. GDP has been declining almost without a break for three years and is expected to show no increase in the last quarter of 2014, mainly owing to the further contraction in investment, which is more than a quarter below the level of 2007." (Ignazio Visco, Governor of the Bank of Italy) 

The more one sees Europe, the more one feels it is cosmetic management.

Without any risk or responsibility. 

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