a global backstop.. if the ECB won’t provide the funds I guess the rest of us get to..
theexpertisinsaid:
At November 30, 2011 8:05 pm
Best summary of this event I have seen. Thanks, Mr. Ritholtz.
The takeaway for me is that a solution has again been punted downfield. I remain skeptical of the Europeans keeping their currency and union together. The gulf in cultures and government (let alone the cheese and wine) has and always will be impractical to align for the long term. The best we can hope based upon their history is that they don’t blow each other up in another war.
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a global backstop.. if the ECB won’t provide the funds I guess the rest of us get to..
Best summary of this event I have seen. Thanks, Mr. Ritholtz.
The takeaway for me is that a solution has again been punted downfield. I remain skeptical of the Europeans keeping their currency and union together. The gulf in cultures and government (let alone the cheese and wine) has and always will be impractical to align for the long term. The best we can hope based upon their history is that they don’t blow each other up in another war.
[...] coordinated central bank intervention is the opposite: A Euro-zone bank on the verge of collapse prompted this extraordinary [...]