Saturday, January 28, 2012

Osborne and Lagarde lead push for more cash for the Euro Zone

Quite incredibly this year's Davos meeting is being brought to a close by the British Chancellor of the Exchequer, George Osborne, leading the rallying call, alongside former French Finance Minister and now IMF head Christine Lagarde, for more money to be poured into the pit that is a doomed Euro Currency. The report in the Irish Times is linked here.

Such calls came when even at the same meeting others were predicting the almost certain end of the currency, the article's conclusion being as follows:

However, economist Nouriel Roubini was more downbeat and described the euro zone as a “slow-motion train wreck”.
Mr Roubini said he expected Greece, and possibly Portugal, to exit the euro zone within the next 12 months and believed there is a 50 per cent chance of it breaking up completely in the next 3-5 years.



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