Salient to Investors:

Megan Greene at Maverick Intelligence writes:

  • Austerity has become a bad word in the euro area and blamed for an ever-worsening recession.
  • Germany’s tough-love approach to repairing the euro area’s finances has fallen out of favor but has merit in the case of Slovenia, which has been masterful at delaying difficult reform, particularly in the banking sector. Absent no real pressure to finally clean up the banking sector and sell state assets, the flow dynamics may keep worsening public debt, government deficits and bad bank loans.

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