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Europe..."there are no longer any good solutions only pain..."
And the sooner "the markets" understand that, the sooner volitility will calm down. At this point in time, Europe is beyond saving. it is only a matter of time before the EU is broken up/disolved.
"The Enron-i-sation of Europe: Finding solutions through SPV’s speak for themselves. Apart from the inability to being implemented (if German constitutional court is heard) it’s also a slippery road towards permanent aid. Hiding debt in more and more obscure vehicles is similar to Enron having 1000s of SPV hiding the “real issue”. Debt is debt. It needs to be paid back or someone needs to take a loss!
All my sources confirm, again and again, this is a desperate attempt to find the right path through this mess. The people in the know, realize there are no longer any good solutions only pain. The pain from here is either 2-5 years of recession or 10-15 years. Enron-i-sation & tax makes this week the new low in solidarity, rationality and solution seeking."
Steen Steen Jakobsen, chief economist for Saxo bank in Denmark
__________________ "No one walking this earth knows what is truly righteous"
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