The Phaserl


Euro Area – Where Things Stand

by Pater Tenebrarum,

EU Watchdogs Release ‘Risk Assessment’

At the moment, the euro area remains quite calm. Although risks have actually increased due to continued economic weakness in both the ‘core’ and the ‘periphery’ (for instance, the depression in Greece continues with full force, with unemployment hitting a new record high at over 27% recently), the markets are still pretending that everything is fine. All it apparently takes is ‘political will’ and the mere threat that the ECB’s printing press could swing into action.

Meanwhile, the EU’s three ‘financial watchdogs’ have published a report of where they think the biggest risks currently are. As a rule of thumb though, the watched pot rarely boils – it is the things that are not receiving any attention that are most likely to go wrong. However, we would certainly agree that they do have a point regarding the banks.

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