Decision Day moves closer

Decision Day moves closer
Posted on May 05, 2012 |

After almost three years of fudge and inertia, the day of reckoning is almost here. Today we will have yet another Euro Summit. This will differ from most of the others that have been held over the last few years in one major way.

Everybody knows that if they miss this very last opportunity to work throught the euro crisis, the markets will simply sort the crisis themselves.  For all of the platitudes that the leaders say, nobody knows what this result will inflict on the banks and the eurozone in particular.

In Septemeber of last year, I wrote “Way back in June, I stated that it was purely a matter of time when Greece would leave the Euro, not if she would leave the Euro. Everyone’s attention is firmly on Greece, and her financial woes. Greece is history now ( no pun intended) the country we should look at is Germany, for only she has the financial clout to save Greece and the Euro ”

Nothing has changed apart from the pressure on Angela Merkel. Last night, Germany clearly ruled out any kind of “Eurobonds”. So at todays meeting, it is all to play for, and a chance for us to see how Hollande plays his growth cards!

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