Markets:
DJIA +318.190.93%
NASDAQ +50.420.37%
S&P +34.030.82%
Featured Stocks:
ENPH -3.89% 121.94
COIN -5.95% 256.76
PAE -1.49% 8.62
ICLN -1.32% 21.65

eurozone financial crisis

Article Index

Does the Eurozone Have Its Own Lehman Bros?

By , Chief Investment Strategist, Money Map Report -

Does the Eurozone have its own American International Group Inc. (NYSE: AIG), or worse, its own Lehman Bros. when it comes to Greece?

I believe it does.

Why else would the European Union have bent over backwards to "save" a member nation that: A) Accounts for 2.01% of the EU by trade volume; and B) Would essentially be like letting Montana go out of business - no offense to Montanans or Montana!

More to the point, if things really were under control, why would European Central Bank President Jean-Claude Trichet say that risk signals for financial stability in the euro area are flashing "red" as he did following a meeting of the European Systemic Risk Board in Frankfurt?

The short answer: Because he knows what the European banks are desperately trying to hide from the rest of the world - that there are still enormous risks and they're even more concentrated now than they were in 2008 at the start of the financial crisis.



Click here to continue reading...