Monday, June 25, 2012
The Consequences Of The Unthinkable: Here Is What Happens When The Euro Breaks Up
Spiegel summarizes, three things will happen simultaneously when the unthinkable finally occurs: i) economic output plummets, ii) unemployment rate soars, and iii) consumer prices explode. Of course, this is nothing but merely deferred consequences for Europe partying for over a decade under an unsustainable regime that borrowed from the future (sound familiar?). And now the inevitable hangover. In other words: payback is a bitch.
Posted by Michele Kearney at 12:36 PM