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Doomsday for the Eurozone?

Posted on February 18 2010 9:00 pm
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by Vasko Kohlmayer

“Euro Area Headed for Break-Up,” warned a recent Bloomberg wire. The shocking headline was prompted by comments of Albert Edwards, a leading strategist at Société Générale, one of the oldest French banks. Speaking about the debt crisis that is currently engulfing Greece as well as a number of other eurozone* countries, Edwards said: “My own view of developments, for what it is worth, is that any help given to Greece merely delays the inevitable break-up of the eurozone.”

Lest you think Edwards is some kind of doomsday crank, he called the 1997 Asian currency meltdown one year ahead of time. A senior figure at one of Europe’s top financial service companies, he was also voted the second best European financial strategist in the prestigious Thomson Extel survey.

Read more at FrontPage Magazine.

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