07-20-2012, 08:51 AM
Well, the article was notable not for Pritchard, who has been saying this stuff for some time, but the IMF.
I think the odds are pretty high on Greece leaving the euro in September and the central banks holding fire until then, embarking on QE to soften the contagion. I can't imagine the central banks don't have some plan.
Of course, if Spanish yields keep rising, something ugly might happen before. We also have the German constitutional court decision on the ESM, the 12th of September.
Although I'm not a British citizen, I'm an unabashed, unashamed Anglophile, Petro, try to keep that in mind a little
I think the odds are pretty high on Greece leaving the euro in September and the central banks holding fire until then, embarking on QE to soften the contagion. I can't imagine the central banks don't have some plan.
Of course, if Spanish yields keep rising, something ugly might happen before. We also have the German constitutional court decision on the ESM, the 12th of September.
Although I'm not a British citizen, I'm an unabashed, unashamed Anglophile, Petro, try to keep that in mind a little