Monday, December 06, 2010

In Need Of Credibility 

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. 


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