European Bank CEO Admits: "The Whole Thing Is Doomed"
2013-02-21 0:00

By Tyler Durden | ZeroHedge.com

As the European parliament attempts to create a budget and Draghi repeats how the temporary lull in European growth is merely a prelude to a growth renaissance in the second half of the year (not to be confused with the verbatim lie rehashed by European dignitaries in 2012, 2011, 2010 and 2009), it appears a few leaks of truthiness are seeing daylight in the disunion.

In a shockingly frank interview, the CEO of Saxo Bank describes the Euro’s recent rally as illusory and that "the whole thing is doomed," as the continent is not supported by a fiscal union. As Bloomberg reports, Lars Seier Christensen says he would be a "seller of the EUR at anything near 1.40," noting that "right now we’re in one of those fake solutions where people think that the problem is contained or being addressed, which it isn’t at all." Confirming that the only thing holding the farce together is political not economic efforts, he sums the situation up perfectly: "people have been dramatically underestimating the problems."

Via Bloomberg,

Lars Seier Christensen, co-chief executive officer of Danish bank Saxo Bank A/S, said the euro’s recent rally is illusory and the shared currency is set to fail because the continent hasn’t supported it with a fiscal union.

“The whole thing is doomed,” Christensen said yesterday in an interview at the bank’s Dubai office. “Right now we’re in one of those fake solutions where people think that the problem is contained or being addressed, which it isn’t at all.”


[...]

Read the full article at: zerohedge.com



Related Articles


Latest News from our Front Page

Pegida's Multi - Culti (state) Agenda!
2016-02-08 4:49
This guy raises some very interesting points regarding the recent PEGIDA launch in the UK and around Europe. Make sure to check out the videos below. The focus on the criticism descends into a Nazi accusation contest. "No no THEY are the REAL Nazi's." Pegida UK is fronted by Tommy Robinson, Paul Weston and Anne Marie Waters. They held a demo in ...
Sweden plans to expel up to 80,000 asylum-seekers (that didn't seek asylum)
2016-02-08 3:58
Enrichment Sweden intends to expel up to 80,000 migrants who arrived in 2015 and whose application for asylum has been rejected, Interior Minister Anders Ygeman said Wednesday. Ed: Wait, so they are in the country despite being rejected asylum? How did that happen and who let them in then? "We are talking about 60,000 people but the number could climb to 80,000," the ...
What Happened to Roosh and Why Did the International Media Run With the "Pro-Rape" Allegation Lie?
2016-02-08 1:40
In the past few days there has been a slew of articles coming out of the garbage pile that is the mainstream media, detailing how "Roosh V" of Return of Kings, not only is a "Pro-rapist," but how he also was going to teach men how to rape, at their planned international meetups. Roosh did a press conference in Washington DC, ...
An Occupied Country
2016-02-06 5:42
When people refer to occupation governments or occupied countries, the first thought is often of military occupation—the garrisoning of foreign troops in one’s cities and civil administration by their military executives. The other vision is the trope of a cabal of Haredim sitting in a darkly-lit boardroom with a map of the world on the wall, a dated reading of ...
Immortal Symbols 1941
2016-02-06 2:07
Youtube description: Dutch film "Eeuwig Leevende Tekens" by Hamer - "Volksche Werkgemeenschap" (Folkish Study Group) - ancestral heritage, solar wheel, sun cross, tree of life, etc. Subs by Otharus - http://fryskednis.blogspot.com Source: youtube.com
More News »