Monday, September 12, 2011

PIIGS to the abbatoir

"I am not implying that the market is set to crash here, but the risks are extraordinary. Political indecision has the European banking system teetering on the edge. I would go so far as to say that the risks are so enormous here that the water is simply not worth even dipping a toe into. As investors we have to recognize that we’re in the business of taking calculated risks and not risking capital based on a roll of the dice by politicians who don’t understand the magnitude of the issues they’re dealing with…."

GREECE – THE FIRST OF THE DOMINOES? - Pragmatic Capitalism

Political indecision maybe, but from up here in the cheap seats I don't think there is an answer. Prepare for it to get quite ugly.

No comments: