The ECB will buy the Italian bonds. But the constraints are going to be demanding. So demanding that Italy and all the other countries in trouble will have to obey the conditions of the ECB.
They will be forced to austerity programs that will destroy their economies. And Europe will fall in a deep recession.
Meanwhile Germany will continue expanding in China and Eastern Europe.
Question. Who is going to be the dominant force in Europe in the long run as all the other countries (presumably) make the necessary adjustment?
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
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