Monday, December 06, 2010
A year ago, one would not have thought that the Euro was in trouble as a monetary system. What a difference a market meltdown makes. The Euro today needs the highest level of PR to hold the market together and to continue as a viable currency. That, of course, includes austerity programs in debt-ridden countries and bail-outs, but that may not be enough. Once a currency has lost credibility, an avalanche begins that is difficult to stop.