Eurozone Not Out of The Woods, RBC Executive Warns!

• It ain’t over till the fat lady sings. The Eurozone is heading towards a cataclysmic crash. More debts have been piled upon existing debts to create an even bigger problem! Don’t let the financial MSM’s beautiful lies deceive you.
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  Euro zone not out of the woods, RBC executive warns! 
  by eric reguly , http://www.theglobeandmail.com/ 
  Approval of Greece’s sovereign debt overhaul, the biggest bond restructuring on record, does not mean the worst is over for the euro zone despite buoyant markets, one of the top Royal Bank of Canada .. executives and other market watchers say.
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  “The market is having to work through this crisis in successive waves,” Harry Samuel, chief executive officer of RBC’s European investment arm, said in an interview Wednesday in London.
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  “The market has clearly moved through one wave of the crisis, but that doesn’t mean there aren’t more problems to come, both within Greece and other elements of the euro zone.”
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  He is not alone in his views. In recent days, several analysts and economists have urged investors to stay cautious, suggesting that the Greek restructuring and the European Central Bank’s €1-trillion ($1.3-trillion) liquidity injection into the banking system have merely lulled the markets. The injection, some have said, is an “adrenalin rush” that could wear off fairly quickly.
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  They fear Portugal could erupt and that Greece’s second bailout, combined with the bond “haircut” that eliminated more than €100-billion of national debt, are insufficient to keep the country out of the critical care ward for long.
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  In a note, Société Générale economists James Nixon and Michel Martinez said that “significant doubts remain about the viability of the plan for Greece” and that Athens will probably not meet its fiscal deficit targets.
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  “This practice of underestimating the fiscal multipliers simply because it is politically expedient is one of the reasons why it will only be a matter of time before Europe’s sovereign tensions re-emerge,” they said.
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  … for more click here!

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