At each cry of help, the powers that be are injecting a potent but short lived dose of life sustaining matter into the system, but this is unfortunately just another case of too little too late. The political setup of this European "experiment" is their "Achilles heel" that impedes them from doing what is needed to avoid a train wreck. With the record erosion of the Euro against the Swiss franc and European stock markets now firmly in negative territory there is little that can be done to stop contagion from spreading. Default is still in the cards but the more time passes the less likely that it can be conducted in an orderly manner.
Mind you, the U.S. is in its own mess too, still recovering from a colossal debt burden and no way out of it, other than to print more money to buy more time. Still, the fact that the U.S. enjoys both economic and political integration puts it at a major advantage to Europe, and right about now, the markets seem to agree with this.
Mind you, the U.S. is in its own mess too, still recovering from a colossal debt burden and no way out of it, other than to print more money to buy more time. Still, the fact that the U.S. enjoys both economic and political integration puts it at a major advantage to Europe, and right about now, the markets seem to agree with this.
