Salient Ponts: Professor Nouriel Roubini at NYU said at some point Germany has to decide if it takes the credit risk to backstop Spanish and Italian debt in exchange for some loss of natural fiscal sovereignty by Italy and Spain, giving the Eurozone a chance to survive, or otherwise Europe dissolves in the next few
READ MORE... →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: Bank of America survey said optimism among global asset allocators has fallen back to the lows of autumn 2011:, equity holdings have been reduced to underweight for the first time in seven months, cash raised to the highest level since 2008 and third-highest level on record. Predictions: RBC Capital
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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