There is increasing turmoil today over the on-again, off-again Greek referendum, a pulled EFSF bond auction, widening Italian spreads and, far in the background , France's AAA rating.
What a mess.
Europe is going to have to go through a wrenching adjustment of all its certainties, including the modern welfare state. The latest great European summit solution last Wednesday night lasted less than three business days.
No comments:
Post a Comment