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Economy

Trader predicts Eurozone collapse on BBC

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I think our trader friend is exaggerating when he says that Goldman Sachs rules the world – they may think they do, and they certainly pay themselves commensurate bonuses – but it is not a stretch to say that the eurozone response to market pressures has been lackluster. There is very definitely a high probability of a eurozone collapse if the present course of action, which includes a 21% hairclip of Greek sovereign debt, is pursued. I can’t see how such a default could be confined to Greece – it would immediately reverberate to Ireland and Portugal, with the inevitable follow-on effects….

http://www.youtube.com/watch?v=aC19fEqR5bA

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