Monday, 26 January 2015

Is Eurozone worried?

Darn right it is worried. Greece has been the Fox in the hen house for to long. Now it has got the chance to spit out the undigested bones and try a different delicacy. The unfortunate part about it is that it has eaten its meal and is not going to pay the bill. Then to add insult to injury it is about to ask for the dessert menu and even has the cheek to ask the chef for something not on the menu. If, using this restaurant metaphor the chef does cook up another dish he must take extra care with the hot sauces because one wrong move and he may get his fingers burned trying to cook the volatile ingredients.
Only an alien visitor from planet zog wouldn't know about the meaning of the previous paragraph, the Eurozone in in deep doo doo. Billions of Euro is at stake and it could have knock on effects to other member states who whilst not as bad as Greece if they see the Greeks get away with write offs they will want treating the same. I personally see this as the start of the unravelling of Europe. They never dealt with Greece eighteen months ago and the next few months will see a run on the Euro and at a time QE has just been introduced. For me the European Union is about to enter free fall and the recent recession will look like a pantomime compared to what could be on the horizon.

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