Friday, January 13, 2012
EU Central Banks Are Already Preparing For a Euro Breakup
It is now clear that the Euro will be broken up
in the coming months.
Consider the following statement from Italy's largest bank:
Euro break-up cited as risk in UniCredit prospectus
UniCredit, Italy's largest bank by assets, has cited the
break-up of the euro zone and the collapse of the single
currency as risk factors in the prospectus of its 7.5
billion euro rights issue.
http://www.reuters.com/article/2012/01/05/unicredit-ceo-euro-idUSL6E8C547I20120105
Or how about this one straight from two German lawmakers:
Greek Euro Exit Weighed By German Lawmakers, Seen as Manageable
Lawmakers from Chancellor Angela Merkel's party are
stepping up pressure on Greece as it struggles to meet
the terms of its second bailout, saying that a Greek exit
from the euro region would be manageable.
http://www.businessweek.com/news/2012-01-12/greek-euro-exit-weighed-by-german-lawmakers-seen-as-manageable.html#1_undefined,0_
There are simply stunning comments coming out of
VERY high level sources in Europe. Remember,
as much as Merkel talks about maintaining the Euro,
she needs German lawmakers to back her on that
decision.
And that simply isn't going to happen. The German
courts and German voters simply won't stand for it.
So while Merkel and Sarkozy talk time and again about
solving this situation, the fact remains that moves are
already being made behind the scenes to prepare for
the end of the Euro.
This is not mere conjecture. Numerous EU central
banks have already begun preparing for the possibilty
of printing their old currencies again. Germany is one
of the countries doing this by the way.
In plain terms, the Euro in its current form is finished.
When it breaks up we will see widespread defaults
across the EU. And what follows will make 2008 look
like a joke.
So if you have not already taken steps to prepare for the next
round of Euro Crisis... you need to do so now!
Once the Euro breakup is announced it will be too late
as panicked selling pushes the market into collapse.
Many people will see their portfolios destroyed by this.
Now is the time to make sure you're not one of them.
I can show you how. Indeed, few investors can match
my ability to make profits out of a Crisis.
Labels: Crash, crisis, Debt crisis, Default, Euro finished