This Great Graphic comes from Alea and Deutsche Bank. Just like the end of the Great War saw the UK and France pullback from their territorial empires, with some pushing from the US (see the Suez Crisis and Indochina), the existential crisis in Europe is forcing a retreat from the commercial empire. There are numerous examples. This is one. European banks have reduced their US presence by about a third. Japanese and Canadian banks have moved into the space vacated. This broad process of Europe's retreat may also help explain one of the forces acting to slow the euro's decline--repatriation of sorts to cover holes at home.
Great Graphic Europe's Commercial Empire in Retreat
Reviewed by Marc Chandler
on
August 15, 2012
Rating:
Reviewed by Marc Chandler
on
August 15, 2012
Rating:
