News to expect in the coming days and weeks:
– Greece defaults
– Germany protects German banks but other countries cannot do the same thus quickly provoking multiple sovereign defaults and or bank failures, all of which may easily lead to a payments crisis in the global banking system. Derivatives are particularly at risk in terms of operation and execution.
– The Euro falls in value especially against the US dollar
– The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up.
– The Euro falls even more on any news that Germany is withdrawing from the Euro. [bron]
Dr. Pippa Malmgren