Leeb: “I think one consequence of what’s happened in Ukraine is to put Europe on notice. This means they have to make sure that their economies, not just the German economy, continue to grow. If they don’t, Russia’s influence will spread wider and wider….
“Even the Baltic states could be in danger. Two of them have a large proportion of Russian-speaking people. Right now Latvia, Lithuania, and Estonia are all part of NATO. This suggests that while this conflict may be quiet for a day or so, it’s far from over.
The only real weapon the Europeans have is to strengthen their economies to keep them out of the grip of the Russian bear. So the Bundesbank has already endorsed quantitative easing. This is a big shift for the Bundesbank.
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