Το Κοστος Δανεισμου της ΕΖ…”σημερα”

12:11 29/11/2011 - Πηγή: Olympia
Greece is “off the chart” (in the “toast” zone)Portugal will not make it as debt and interest is not sustainable and the EFSF struggles to raise bailout funds.The “soft Euro-zone” could survive by aggressive monetarization of debt by the ECB – once the German hardliners quit. Inflation
would probably follow in a few years, but that is another question.The “hard Euro-zone” would consist of Germany and the Netherlands. They unilaterally quit the Euro-zone and introduce a pegged currency pair.France is really the only unsolved question in this puzzle. Bond yields have peeled away from Germany a bit too far. Historically, France was a “soft” currency country with frequent realignments of exchange rate under the European ERM (Exchange Rate Mechanism). Given the strong political ties France will probably be forced to stay married to Germany, but it will be an unhappy marriage, with an eventual break-up at a later date.I have included Hungary just out of curiosity, since their love-hate relationship with the IMF is slightly entertaining.

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Keywords
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