Salient to Investors: George Soros said: A failure to produce drastic measures could spell the demise of the Euro. Europe should create a European Fiscal Authority to purchase sovereign debt in return for Italy and Spain implementing achievable budget cuts – funding to come from the sale of European Treasuries, which would
READ MORE... →Salient to Investors: Pimco’s Bill Gross said Spanish Bonds are unattractive. The global economy is delevering. Best to look at the entire core of the euro zone and not the falling dominos. Rates at the core are still too high – Italy and France yield is too high versus their nominal GDP growth. There
READ MORE... →Salient to Investors: Martin Feldstein said Greece cannot be fixed. A Greek departure would be chaotic short-term, but longer-term would return Greece to growth and more robust employment. Italy is in good shape. Spanish regional budget deficits pose a bigger problem than the banking crisis. European leaders lack a longer-term strategy on how to
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