Last night while I was scanning the TV, I came across and watched Bloomberg's Mark Crumpton's interview of Axel Merk President of Merk Mutual funds, whose insights are relevant to the ongoing concerns over Greece and the PIIGs
I scoured the internet and found the video (see below)...
Some notes:
-Spain is not a short term debt problem but very different structural issues (economic problem)
-This is not a monetary question, this is a political question. Is there political will to resolve Greece’s problem?
-would require policy measures that have teeth (to implement against Greece's profligacy)
-sovereign debt is a global issue
-there will be more sovereign downgrades outside the Eurozone.
-Collateral rules will be relaxed
-Any bailout should include Greek Banks.
-We like the Euro, others are fully priced.
-Euro is priced at an "end of the world scenario"
I scoured the internet and found the video (see below)...
Some notes:
-Spain is not a short term debt problem but very different structural issues (economic problem)
-This is not a monetary question, this is a political question. Is there political will to resolve Greece’s problem?
-would require policy measures that have teeth (to implement against Greece's profligacy)
-sovereign debt is a global issue
-there will be more sovereign downgrades outside the Eurozone.
-Collateral rules will be relaxed
-Any bailout should include Greek Banks.
-We like the Euro, others are fully priced.
-Euro is priced at an "end of the world scenario"
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