Now the cat is well and truly out of the bag. With David Cameron stating that Europe has to sort out the Euro. What a surprise!
The new phrase that will appear very soon in the media will be capital migration. This simply means that people who have cash in countries like Greece & Spain, will move what cash they have from Greek & Spanish banks to either German, Swiss or UK banks. If this accelerates any more, it would simply cause a run on that countries banks. This is the key to the Euro crisis, as it is the people themselves deciding on what to do, not the politicians.
So we now move into the next phase, will the Euro zone stagger along, or will it show strength and make a decisive action to support the Euro? As always, this lies with one country alone, Germany. Whilst they ponder, the Eurozone simply have to wait and see.
The next few weeks will decide on the possible future of the Euro. Watch this space!