Bad to the eurozone core | Richard Baldwin, VoxEU | Commentary | Business Spectator

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IMF chief Christine Lagarde has made phase 2 of the eurozone crisis official: “Developments this summer have indicated we are in a dangerous new phase.”

Phase 1 was the eurozone periphery and phase 2 is the eurozone core. It is now possible that more eurozone nations will need bailouts and Europe will fall into a Lehman-sized recession.

This changes everything. Eurozone leaders must wake up and get a grip on the situation before it tumbles out of control. They’ve been sleepwalking since May 2010, so it may take a stock market crash to stir them to action – and the stock-market alarm clock looks set to go off soon.

via Bad to the eurozone core | Richard Baldwin, VoxEU | Commentary | Business Spectator.

Strange Random Stock Market Quote:

“ Market Timing is a wicked idea. Don’t try it ever.” – Charles D. Ellis

 

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