 London (CNN) – We are now well into Olli Rehn’s 10 days to save the euro and the tempo is heating up. Mario Draghi, the new European Central Bank president, has tantalizingly hinted he will do more to help out provided euro-member countries start the process of economic unification. As he put it, the sequence of events matters. In our language: Don’t put the horse before the cart. For Europe’s leaders the promise that the ECB will ride to the rescue is sweet music, perhaps even for Germany’s Merkel and the Bundesbank who are demanding a move to fiscal union as the only preferred long-term solution. |
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updated 1142 GMT, Jun 20
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When will talk about the British Pound.... why the silence...
I predict that Germany will lead Netherlands and Finland into a separate monetary union, leaving France and the ECB to deal with the mess in southern Europe without the newly-formed German monetary alliance - Germany and Scandanavia have no reasons or incentives to remain in the Eurozone or ECB at this point...
I predict Euro is gone by year end and new currency is going to be – German beer, Frech vine, Italian sausage (not berlusconis ;-)), Dutch HOs!, and weed!!, ;-)
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