Quote:
Originally Posted by Maggy J
So how many shoes have to drop before anything collapses? 
This is beginning to feel like the boy who cried wolf..When the crunch finally happens we won't believe it.  |
It's already happening. The formal withdrawl of one or more member states from the single currency isn't the starting point of the collapse (mind you, it's not the end, either). From what I'm reading, the financial markets have for some time now been treating their dealings with each Eurozone member as if they are dealing with a country that belongs to a fixed exchange rate mechanism, rather than a single currency. So far as the money bags are concerned, it's already a done deal.