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Collapse of the euro is ‘inevitable’: Bailing out the Greek economy futile, says FRENCH banking chief

Posted By admin On February 15, 2010 @ 3:30 am In Money Watch | Comments Disabled

Sam Fleming and Tim Shipman
UK Daily Mail [1]
Monday, February 15th, 2010

The European single currency is facing an ‘inevitable break-up’ a leading French bank claimed yesterday.
Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide ‘sticking plasters’ to cover the deep- seated flaws in the eurozone bloc.

The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a ‘double-dip’ recession in the embattled zone.

Claims that the euro could be headed for total collapse are particularly striking when they come from one of the oldest and largest banks in France – a core founder-member.

In a note to investors, SocGen strategist Albert Edwards said: ‘My own view is that there is little “help” that can be offered by the other eurozone nations other than temporary, confidence-giving “sticking plasters” before the ultimate denouement: the break-up of the eurozone.’

Full article here [1]

“When the people find they can vote themselves money, that will herald the end of the republic.”Fall Of The RepublicBuy the DVD here [2]

Collapse of the euro is inevitable: Bailing out the Greek economy futile, says FRENCH banking chief  FOTR 340x1692 [2] 

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URLs in this post:

[1] UK Daily Mail: http://www.dailymail.co.uk/news/worldnews/article-1250433/Greece-debt-bailout-EU-leaders-split-euro-crisis.html

[2] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[3] Euro collapse imminent, experts believe: http://www.prisonplanet.com/euro-collapse-imminent-experts-believe.html

[4] Euro zone discussed capital controls if Greek exits euro: sources: http://www.prisonplanet.com/euro-zone-discussed-capital-controls-if-greek-exits-euro-sources.html

[5] Bring Out Your Dead – UBS Quantifies Costs Of Euro Break Up, Warns Of Collapse Of Banking System And Civil War: http://www.prisonplanet.com/bring-out-your-dead-ubs-quantifies-costs-of-euro-break-up-warns-of-collapse-of-banking-system-and-civil-war.html

[6] The Collapse of the Euro: http://www.prisonplanet.com/the-collapse-of-the-euro.html

[7] Lloyd’s of London preparing for euro collapse: http://www.prisonplanet.com/lloyds-of-london-preparing-for-euro-collapse.html

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