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Bailout
: Calculated RiskEl-Erian: Europe's Critical Weekend
By Anonymous
PIMCO's Mohamed El-Erian writes in the Financial Times: El-Erian on a critical weekend for Europe and the economy
[W]e have to wait for tomorrow?s operational details. ... [But] we should not under-estimate the historical relevance of what is happening this weekend; and the stakes for Europe and the global economy are huge.Tomorrow will be interesting!If this rescue attempt does not work, there will be a material acceleration in the process of change to Europe?s economic, financial, and institutional landscape; and the reality of the debt explosion in industrial economies will become even more of a destabilizing factor for the world economy.
Full post as published by Calculated Risk on May 08, 2010 (boomark / email).
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