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Euro crisis to worsen, Greece could exit euro

slo1
Posts: 4,308
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9/11/2012 9:44:19 AM
Posted: 4 years ago
Germany and EU is approaching a point where it can't turn back. It is now expected that Germany's high court is going to rule it is constitutional to be involved with the European Stability Mechanism. I believe Germany and Italy are the only countries that need to ratify it.

Once all this money is given to Greece, as long as they continue to show structural reform even is slower than planned, the EU is going to stick this through.

I think some of the banks have odds at 75% of a Greece exit, but I think they are not considering the psychology of the leadership in that they see this as a greater cause to keep the union together. Kind of like Abe.

It is not falling apart until there is no choice in the matter.
slo1
Posts: 4,308
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9/12/2012 1:01:18 PM
Posted: 4 years ago
The German court ruled today that Germany could contribute funds to the program the EU Bank will use to buy bonds directly from struggling member countries to keep yields low.

The board of this European Stability Mechanism meets in October and is expected to start buying bonds in January.

If Greece and other spend happy countries can continue to put house in order, Europe has potential to make it through this. Question is, what could make the house of cards collapse and force a break up?