Today’s emergency meeting of the G-7 came up with no significant announcement. Click to enlarge.
Here is a chart from the Wall St. Journal online site showing the two-speed Europe.
Art Cashin, one of my favorite commenters reminded viewers on CNBC today that Margaret Thatcher, former prime minister of the United Kingdom and one of its best was opposed to the Euro and she was right about why it was in her words, “folly.”
Here’s a quote from a brief online article I suggest you read http://voices.yahoo.com/margaret-thatcher-predicted-eurozone-8931341.html In Margaret Thatcher’s 2002 book Statecraft she said, ‘The European single currency is bound to fail, economically, politically and indeed socially, though the timing, occasion and full consequences are still unclear.'”