The eurozone really has only days to avoid collapse

[katty]

article:

http://www.ft.com/cms/s/0/d9a299a8-1760-11e1-b00e-00144feabdc0.html#axzz1f3C0BpiN

November 27, 2011

The eurozone really has only days to avoid collapse
By Wolfgang Münchau

[FirstLight]

1. can't read without registering

:(

[katty]

4. o sorry

[On the Road]

2. If It's in the Financial Times

it's worth paying attention to. There is a world of difference between it and either right-wing rags or perma-bears who have been crying wolf every day for decades on end.

Having said that, the Europeans will do what they need to do to keep the economy from collapsing, even if it requires some bondholders taking a haircut.

[elleng]

8. Right right right, but

Jose Barrasso, just on PBS Newshour, not so alarmed.

[On the Road]

9. RIght, But

"just days from collapse" is not a prediction -- it's a judgment about what would happen if no agreement is reached. And the EU will reach an agreement if a collapse is imminent.

[elleng]

10. Yes, and they are working on agreement.

Their difficulties differ from our purely selfish political ones; they've got more than 10 countries, who have to sign off/on to decisions.

[Warpy]

3. I've been reading that for a few months now

and we're always days from disaster! Make a stupid financial decision based on FEAR! The sky is falling so get out of the market and buy umbrellas!

While the Eurozone might indeed collapse, it's likely to be a slow collapse as severely shaky countries are dropped at first and then stronger countries voluntarily quit.

I could be wrong, of course, and Münchau could be right, but that's my <plink, plink> on the subject.

[katty]

5. yeah slow collapse w/very slippery slope

[enlightenment]

6. This link might work - sometimes I can back in to the FT:

http://www.ft.com/intl/cms/s/0/d9a299a8-1760-11e1-b00e-00144feabdc0.html

It is an interesting article.

[elleng]

7. Not according to Jose Barrasso, just interviewed on PBS Newshour.

[elleng]

11. Echoes of Europe Crisis in US Deadlock

Europe's deepening debt crisis is echoed in the United States by the inability of President Barack Obama and Congress to strike a bipartisan deficit deal.

On both sides of the Atlantic, leaders are having a hard time making tough, unpopular decisions. And things come together only at the very last minute, if at all, while the global economy hangs in the balance.

What happens in Europe is important to Americans. It has already taken an economic toll on U.S. exporters — from reduced consumer demand in Europe for their products and from a rising dollar against the euro. U.S. stock markets have been battered for months as the crisis spread from Greece to other more-solvent economies, including Italy and Spain, and even taking a toll on Germany's ability to sell its bonds.

The worse things get in Europe, the more likely the contagion could spread to the U.S.

http://www.nytimes.com/aponline/2011/11/29/business/AP-US-US-Europe-Parallels-Analysis.html?hp