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.

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