Greek Woes Just a ‘Teething Crisis’ for an expanding EU
Source: cnbc.com
Ed Comment: I believe the "strategist" in the article below is correct. The European Union is not going to fail as many commentators have argued.
What we’re seeing is a stepping stone towards a stronger and a more powerful entity called the United States of Europe.
The strategists that have been mythologizing the EU and it’s shady foundations have finally gotten (or created) a crisis that they can "hinge" the "reasons" for a stronger Europe on.
In the future we’ll hear that the EU was founded on different nations helping each other in time of economic crisis.
Greece is in example of what all EU countries will go through sooner or later. The globalists planners have been dying to get their hooks into the flesh of the individual countries and to get them so sign away their national sovereignty.
The Illuminati think LONG TERM and therefore the "collapse" and "failing" Euro or European Union is just a short term created problem to get the general public to go along with whatever "rescue plan" that is offered to them.
In the LONG TERM this manufactured economic crisis will help to ensure that more power end up in fewer hands.
If Greece doesn’t leave the EU now, they never will! After the papers are signed, Greece will never have an option to leave the EU - and THIS is what they want. Objective achieved!
The following is from cnbc.com:
Despite mounting speculation that Greece’s problems will cause the euro zone to unravel, one strategist says such a scenario will not materialize, and describes the debt crisis as a “teething” problem for the bloc.
"I think these are just teething crisis, or really just the evolution of the European union into something greater, which is going to be a federalism fiscal unity," Andrew Economos, Head of Sovereign & Institutional Strategy Asia at JP Morgan Asset Management told CNBC on Monday.
Economos is confident that “Europe will hold together” and "muddle through just like the world has done in the past".
“There will be a Euro zone, there will probably not be defaults- technically they’re insolvent but it doesn’t matter, the system will adjust to make sure that there are no defaults,” he said.
Economos believes the coalition deal which Greek Prime Minister George Papandreou has sealed with the opposition, while sketchy, is a step in the right direction, and could follow the path of Ireland earlier this year.
“For any country to make a full adjustment you need the 3 R’s which only the Irish have done to date; you restructure your debt, you reschedule it and then you have regime change,” he said.
“We finally got the final R in Greece, we have regime change. A national unity government means things can move quicker, and without too much politicking, everybody’s on board, and that’s what the referendum threat was all about.”
An immediate concern for Europe, Economos says, is the recapitalization of the Northern European banks, which are holding around $1 trillion of peripheral debt.
"They’ve got to work that down, and the German banks and the French banks and the Dutch banks are too big to fail. So this is all about the system holding together, cobbling together some kind of unity plan so that the banks can continue their recapitalization."
To play this market, Economos suggests avoiding the euro currency, start piling into stocks, and steer clear of financials.
“Short term, if we get more political unity across all of Europe with this talk about a bazooka for the EFSF, a continuation of Euro bond, ECB-type euro bond purchases, I think you’ll start to see some strengthening in the euro, but longer term the trend is for a weaker euro… only because Europe wants a weaker euro, especially Germany, which has 50 percent of their GDP in the exports sector,” he said.
“You should be looking to add to your equities, and if you want to hedge your bets by high-quality equities with very good dividend yields, still a fairly good bargain. Stay away from financials until we sort that out, but really buy some good stocks.”
Source: cnbc.com
