Saturday, May 7, 2011

The Euro ..............

So what's up with the euro? Is Greece really headed for the exit? Not according to this. Prof. Varoufakis believes that people within the German Finance Ministry and banks have lost patience with Chancellor Merkel's reluctance to act in a manner appropriate to the seriousness of the situation and persuaded Der Spiegel to raise the pressure.

A related view is that countries under pressure from the markets are themselves using the threat of exit to extract concessions from their creditors.

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