Salient to Investors:
Gary Cohn at Goldman Sachs says:
- There is a small probability that the euro area will stick together, and it’s more likely that some countries will exit to pursue growth.
- The ECB program hasn’t addressed the lack of growth – Europe still needs a “Lehman moment”.
- Southern Europe has no ability to grow the economy with the fixed exchange-rate environment they’re in.
- Greece may be better off outside the euro.
- The US Fed may struggle to end QE, when we will have to go through the pains of stopping.