Salient to Investors:

Lars Seier Christensen at Saxo Bank said:

  • The euro’s recent rally is illusory and the euro is doomed because Europe has no fiscal union.
  • Another possible fallout is getting rid of some of the countries being ruined by being in the euro, notably southern European economies.
  • People are dramatically underestimating the problems the French will encounter once they enter a full-scale crisis – it’s over because Germany cannot afford to or will not pay for that crisis.
  • The political world has been extremely supportive of the euro for political reasons not economic.

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