Tuesday, November 1, 2011

Greeks have the last laugh: End of the Euro here we come

Paternoster Square © fintag

News comments:
All those smug political smiles and hollow rhetoric has gone by the wayside.

The Greeks are a historic nation with pride and obstinacy. Having being humiliated by the EU as its debt was slashed by 50%, they know this is not a free lunch and the Greeks will have to pay in other ways so they want a referendum.

As we have predicted all year, the Euro will split into two by the end of this year. Greece is the catalyst but it will be Italy that causes the split. The Greek people want control of their own destiny; not to be ruled by the French and the Germans. The country is truly in a mess and it should sort them out - not outsiders.

So now we learn the Greeks may consider putting it to the people - are we in or are we out.

Out will be the answer.

Today's shorts:
Communism needs capitalism (bloomberg)

Today's longs:
Germans irritated by the Greeks (reuters)

Another crisis summit to be held next week by the EU.


Corp Tax said...

If it goes to referendum, the euro project is over. Goodbye EFSF and the markets will plunge. Long CHF and USD please