Friday, 28 January 2011

Euro Crisis - more platitudes from Jacques Delors

When Jacques Delors talks about defects in the design of the Common Currency he forgets that the main problem is not the Euro per se but the risk to the banking system if a country wants to or has to leave the Euro. Without that risk it would be perfectly possible for a country to become bankrupt while remaining in the Euro. Already in 2005 Temple Associates has warned investors not to invest in the weaker member countries of the Eurozone.

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