"Unless the ECB takes fast and dramatic action, it risks destroying the currency
it is paid to manage, and allowing a political catastrophe to unfold in Europe.
Three EMU countries have already been shut out of the capital markets, and
footloose foreign creditors hold â¬2 trillion of debt securities issued by Spain,
Portugal, Ireland and Greece."
http://www.telegraph.co.uk/finance/...stumbles-blindly-towards-its-1931-moment.html
it is paid to manage, and allowing a political catastrophe to unfold in Europe.
Three EMU countries have already been shut out of the capital markets, and
footloose foreign creditors hold â¬2 trillion of debt securities issued by Spain,
Portugal, Ireland and Greece."
http://www.telegraph.co.uk/finance/...stumbles-blindly-towards-its-1931-moment.html