Value of Information and Official Statements = 0
"The basic saying of the exit from the Euro-zone: everything that an amateur or ideologically-driven economist says would happen with the exit from the Euro, has already happened, is happening, whether it will happen with defending the Euro." - Alberto Bagnai
Citizens, taxpayers and investors must finally recognize in their own well-being that the value of information and the reality of official statements are increasingly approaching zero. Data we read are almost 100% credible, since each official statement aquires the exact opposite meaning in reality :)
Thus, the Eurozone dies in the sea of debts, state dirigism and economic stagnation. With ever-emerging rescue packages, as we see in recent times, we will not get rid of old debts, they only change them to new ones, without anyone thinking about when and how we will return them.
How quickly the Euro will devalue outwards, it is impossible to evaluate, because it has only a relative value as a currency without cover, and secondly, because the US dollar is in the same spot as it's everything but a healthy currency.
On its knees... is not only the Euro-area, but the entire Western banking, financial and monetary system.
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