Unintended Consequences
This week we wonder about the consequences of the European Central Bank
(ECB) issuing over €1 trillion in short-term loans to try and postpone a
banking credit crisis and lower sovereign debt costs for certain
peripheral countries in Europe.
What if, instead of holding the European Monetary Union (EMU or Eurozone) together, that actually makes a breakup more likely?
That would certainly fall under the rubric of unintended consequences, and be worth our time to contemplate in this week's letter.
John Mauldin 3 March 2012
ECB/Mario Draghi
What if, instead of holding the European Monetary Union (EMU or Eurozone) together, that actually makes a breakup more likely?
That would certainly fall under the rubric of unintended consequences, and be worth our time to contemplate in this week's letter.
John Mauldin 3 March 2012
ECB/Mario Draghi
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