Here’s Bob Savage of Track Research describing what’s going on…
Europe is a dysfunctional family, Mom and Dad stay together for the sake of the children. The children see the game and play for better toys. Parents yell and scream but give in as they have nothing else. The next month starts with the hope that the last fight was the last but the flag
seems too clean to be one of conviction rather than contrivance.
So it goes for Germany and France as they try to hold confidence in the union together even as Italy and Spain plan to spend more for growth at their expense. Ireland wants the same treatment as Spain while Portugal wonders what to ask for while everyone ignores Greece which remains the black sheep.
This is not a great platform for a Federation of nations let alone a multi-generational victory for families or peoples. The world should remain worried as the promises from the 19th crisis EU summit are likely just another exercise in avoiding conflict rather than finding resolution.
- The euro crisis: Everybody’s problem (cbsnews.com)
- Merkel: Eurobonds would repeat old mistake (buzz.money.cnn.com)
- Stocks Rally As Europe Uveils Crisis Plans (usnews.com)
- Micron Associates: The euro zone’s second largest economy, played by the debt crisis Domino, Micron Associates report-Blogger (culleme.typepad.com)
- Spain To Get $125 Billion In Aid (247wallst.com)