From the FT:
“The crisis is deteriorating at an ever-increasing pace,” said Mark Schofield, a senior strategist at Citigroup. “Investors are increasingly pricing in either of the two tail risks – full eurozone break-up or fiscal union.”
Agreed.
Its as simple and horrendously complicated as that.
I find myself torn between wanting to believe Barroso’s ‘very big step <forward>’ is close …….
Whilst sensing we need another – genuinely traumatic – event to breakdown the final barricades of resistance.
Crisis fatigue is creeping across the screens.
Can the eternal ‘fudging’ last much longer?
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