Mera vatten på min kvarn, Pimco-chef: the realisation that in today’s eurozone, Italy and Spain (and France ) are in effect like emerging market countries that borrow in another currency
Om man har en sedelpress går man inte i konkurs, skrev jag på denna blog den 4 november.
Nu har denna tanke även gått upp för Andrew Balls, head of Pimco's European investment team
It is very difficult to argue that the rise in Italian and Spanish spreads since earlier in the summer has been the result of deterioration in fundamentals
Rather, what we have is the realisation that in today’s eurozone, Italy and Spain (and France ) are in effect like emerging market countries that borrow in another currency.
The eurozone is in an existential crisis.
Andrew Balls, head of Pimco's European investment team, Daily Telegraph, 5 December 2011
Nyheter om EMU här
Nu har denna tanke även gått upp för Andrew Balls, head of Pimco's European investment team
It is very difficult to argue that the rise in Italian and Spanish spreads since earlier in the summer has been the result of deterioration in fundamentals
Rather, what we have is the realisation that in today’s eurozone, Italy and Spain (and France ) are in effect like emerging market countries that borrow in another currency.
The eurozone is in an existential crisis.
Andrew Balls, head of Pimco's European investment team, Daily Telegraph, 5 December 2011
Nyheter om EMU här
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