martes, 29 de noviembre de 2011

Is the end near?

Do two consecutive good days in the markets mean the danger of a meltdown is past? Unfortunately, not. Stock prices in the US and Mexico are reacting to the 4-5% drops of last week (in dollars, the IPC lost 8.3%) and to the hope that the very real possibility of collapse will be the spur European leaders need to allow the European Central Bank to buy government debt. 

A report issued November 25 by Japan's Nomura Bank underlines just how dire the situation is. Analysts warned that “(T)he euro zone financial crisis has entered a far more dangerous phase.... a euro breakup now appears probable rather than possible" unless the European Central Bank comes to the rescue.

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