Tuesday, December 6, 2011

European Debt Crisis Resolution- Doubtful

The financial markets seem to be expecting or at least hoping for some major breakthrough at the end of the week. Don't hold your breath. Might be a good at least short term selling opportunity? Think about what is going on here, seventeen different countries, cultures with differing economies and financial situations. Unfortunately, many of them have large budget deficits and are near or in recession. Some of these countries have imposed austerity taking a severe toll on their citizens. Have you ever tried to get 17 people together and come to a consensus on a major problem? The stronger countries like Germany and France don't want to get stuck with the tab on bailing out the weak countries like Greece, Spain. The Euro currency has been on the slide because the markets question the future of the European union. Are Germany and France going to allow these countries in dire shape to drag down their economies? No. It may be too late to save the Euro!

No comments:

Post a Comment