June 22, 2012
Italy's PM: 'We have a week to save the euro'
Over the last couple of years, we've heard this warning from a variety of european officials -- we have a week, or two weeks, or ten days to save the project unless some specific action is taken. Well, the week or two or ten days goes by and nothing much happens. Is Italy's Prime Minister Mario Monti just trying to gain headlines? Or, when he says we have a week to save the euro, is that an accurate reflection of the current state of affairs? Disturbingly, he may be spot on this time. A summit meeting next week featuring the top 4 european economies will meet to discuss how to deal with the growing debt and banking crisis. The Guardian: Speaking to the Guardian and a group of leading European newspapers, Monti said that, without a successful outcome at the summit, "there would be progressively greater speculative attacks on individual countries, with harassment of the weaker countries". The attacks would be focused not only on those who had failed to respect EU guidelines, but...(Read Full Post)