Cool Video: CNBC Euro Decline Part of the Solution, not the Problem

In this Cool Video from this morning on CNBC, I warn that the euro will continue to decline, and that that depreciation is part of how the euro area will recover.  As I argued a couple of years ago, Greece is likely to remain in the monetary union.  The idea that Germany (or France) suggest that the euro area could survive without Greece is simply a negotiating stance, and one in which some members of Merkel's government have already distanced themselves.  Moreover, though I did not say it in this interview, I recall many thinking the same thing about Lehman.  I know I was surprised by aftermath of Lehman's demise.  Lastly, I do not think it is particularly helpful to say one side in a negotiation in blackmailing the other.  Syriza has accused the Troika of blackmailing it.  Those sympathetic to the creditors accuse Greece of blackmailing them.  This is simply hard-fisted negotiations.  

Click here for the video.  


Cool Video: CNBC Euro Decline Part of the Solution, not the Problem Cool Video: CNBC Euro Decline Part of the Solution, not the Problem Reviewed by Marc Chandler on January 06, 2015 Rating: 5
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