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Fitch's David Riley calls on the ECB to redouble its efforts at buying troubled EU sovereign...

Fitch's David Riley calls on the ECB to redouble its efforts at buying troubled EU sovereign debt or else risk a "cataclysmic" collapse of the euro. He also would have the EFSF turned into a bank so it could borrow from the central bank window, rather than going to the market (which is mostly sitting on its wallet).
Comments (3)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    So a ratings agency says to print money...to save the EURO...if you spend more money and go deeper into debt..you save your rating...but if you cut expenses..you are in trouble....wow...the new math....I failed that class.....got gold
    11 Jan 2012, 08:06 AM Reply Like
  • Econdoc
    , contributor
    Comments (2944) | Send Message
     
    Mr. Mellon would be proud.

     

    a little history helps

     

    the Euro is a political instrument as well as an economic instrument

     

    right now - for political reasons (mostly Gernan intrasigence) - most of Europe is on the path toward Great Depression 2.

     

    once and if they get there the people will demand a withdrawal and the right to control their own destiny. once that happens the economic benefits will be lost.

     

    E
    11 Jan 2012, 10:47 AM Reply Like
  • JCH57
    , contributor
    Comments (50) | Send Message
     
    Fitch, by the way, happens to be headquartered in France.
    11 Jan 2012, 11:36 AM Reply Like
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