The EU Deal?

pmbug

Your Host
Administrator
Messages
7,531
Reaction score
45
Points
203
Location
Texas
This is a fantastic interview with Citi's Willem Buiter on Bloomberg TV.

You can hear the anger in his voice as he argues that Europe may have a matter of days before an unnecessary default and a financial catastrophe.

The answer: the ECB must act fast, and ignore the Germans who don't get it. While some people don't think that the ECB can really monetize sovereign debt this way, Buiter believes there's absolutely nothing preventing the ECB from doing whatever it wants on the secondary market.
...

Buiter on Europe's crisis:

"Time is running out fast. I think we have maybe a few months -- it could be weeks, it could be days -- before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now."

"The only two guns in town, one is only theoretical, and that is increasing the size of the EFSF to 3 trillion. It should happen but it can't for political reasons. The other one, the only remaining share is the ECB. They may have to hold their noses while they do it, and if they don't do it, it's the end of the euro zone."
...
More: http://www.businessinsider.com/must...e-days-before-a-financial-catastrophe-2011-11
 

rblong2us

Yellow Jacket
Messages
2,133
Reaction score
28
Points
163
Location
off world
Willem Buiter is just another voice shouting at the EBC to get printing.
There does seem to be more concern tending towards panic in recent days though.

What puzzles me is why there isnt more open discussion about the great reset, that to me seems inevitable.
Ok its got to be kept under wraps from J6P but its a major event and will need careful co-ordination.

Have they fixed a date for this and as a result are getting stressed because the euro zone might break before the agreed date ?
 

ancona

Praying Mantis
Messages
3,370
Reaction score
1
Points
0
Location
Waaay south
A Eurozone breakup is the best thing for Europe, but will be a thorn in the banksters ass. This will cost them trillions. I like it.
 
Top