The Weekly View: Eurozone Benefits From Restructuring
My thanks to Rod Smyth, Bill Ryder and Ken Liu for their excellent timing letter published by RiverFront. Here is a brief sample from the opening:
Here is a brief sample from the opening:
Portugal, Ireland, and Greece (PIG) went through massive financial upheavals over the last few years, but for the Eurozone as a whole the major problem areas have been Spain and Italy, which comprise 27% of the Eurozone versus 5% for ‘PIG’ combined. So while smaller ‘peripheral’ countries have had an impact on the perception of vulnerability and caused financial shocks in the Eurozone, they do not represent the potential systemic risks posed by Spain and Italy.
Portugal, Ireland, and Greece (PIG) went through massive financial upheavals over the last few years, but for the Eurozone as a whole the major problem areas have been Spain and Italy, which comprise 27% of the Eurozone versus 5% for ‘PIG’ combined. So while smaller ‘peripheral’ countries have had an impact on the perception of vulnerability and caused financial shocks in the Eurozone, they do not represent the potential systemic risks posed by Spain and Italy.
Click here for the full report.
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