Matthew Lynn's London Eye
July 20, 2011, 12:00 a.m. EDT
WASHINGTON (MarketWatch) — Italy is wobbling. Spain is facing a fresh crisis. Even France doesn’t look like it is a secure member of the euro zone anymore. The storms swirling around Europe’s beleaguered single currency are growing by the day as the crisis moves in from the periphery into what can only be regarded as core Europe. The markets remain poised on a knife edge, fearful of the consequences of a full scale collapse.
And yet, the one thing that can’t be underestimated is the political will of Europe’s leaders to keep the euro alive. Three generations of politicians have staked their careers on closer European integration. They won’t give up without a fight.
They will make one last-ditch effort to save the project. How? Europe will soon start printing money on a massive scale — far larger than even the U.S. Federal Reserve’s exercises in quantitative easing.
More at:
http://www.marketwatch.com/story/printing-money-is-europes-only-way-out-2011-07-20?reflink=MW_GoogleNewsLinkback:
https://tubagbohol.mikeligalig.com/index.php?topic=42382.0
