euro collapse

| George Soros

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It should be recognized that a disorderly default or exit from the eurozone, even by a small country like Greece, would precipitate a banking crisis comparable to the one that caused the Great Depression. It is no longer a question whether it is worthwhile to have a common currency. The euro exists, and its collapse would cause incalculable losses to the banking system. So the choice that Germany faces is more apparent than real – and it is a choice whose cost will rise the longer Germany delays making it. via Germany must defend the euro | The Great Debate.

So they look up Jonah, and cast him forth into the sea.

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I think the exit of the PIGS  from the EURO is inevitable.  How can I play that?  I’m not sure if the Euro goes up or down on that.  If the worst credits leave, then the currency gets stronger.  But before that happens, the boat is going to creak and moan until they throw Jonah into the sea.  So the Euro is going to weaken as the ECB puts in good money after bad? It seems that monetary union without political union is a fundamentally flawed idea.  Now that the strains of this unequal partnership are showing on the public … Read more