Quote of the Day: EU Policymakers on Hopium

The primary strategy being pursued to prevent a further worsening of the situation is that of hope. And it is a strategy also being applied to the danger of further contagion. Greece, Ireland, Portugal, Spain: So far, European leaders have been unable to stop the chain of falling dominoes. Cyprus could come next. More ominously, though, are increasing fears that Italy might soon need help. It is unclear whether the euro bailout fund would be big enough to prop up Rome in addition to Madrid.
–   Stefan Kaiser in Der Spiegel

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This entry was posted in Black Swan Watch, Budget Deficit, Euro, PIIGS, Sovereign Debt and tagged , , , . Bookmark the permalink.

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