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 Euros 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 were in one of those fake solutions where people think that the problem is contained or being addressed, which it isnt 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 euros recent rally is illusory and the shared currency is set to fail because the continent hasnt supported it with a fiscal union.

The whole thing is doomed, Christensen said yesterday in an interview at the banks Dubai office. Right now were in one of those fake solutions where people think that the problem is contained or being addressed, which it isnt at all.


[...]

Read the full article at: zerohedge.com



Related Articles


Latest News from our Front Page

Professor: Reason Itself Is A White Male Construct
2015-07-04 3:55
A philosophy and religion professor at Syracuse University gave an interview to The New York Times Thursday in which he critiqued the notion of pure reason as simply being a “white male Euro-Christian construction.” Prof. John Caputo was being interviewed by fellow philosophy professor George Yancy for the 13th installment of an interview series Yancy conducts with philosophers regarding racial topics. Given its emphasis on first principles ...
The Broken Window Fallacy
2015-07-04 3:48
Youtube description: This short video explains one of the most persistent economic fallacies of our day. Source: youtube.com
Jenji Kohan and the Jewish Hyper-Sexualization of Western Culture
2015-07-04 3:33
As detailed in The Culture of Critique, Freud and his followers regarded anti-Semitism was a universal pathology which had its roots in sexual repression. The theoretical basis for this can be found in Freud’s Three Essays on the Theory of Sexuality where he linked aggression to the frustration of human drives — especially the sex drive. Kevin MacDonald notes that: ...
Confederate History - Dispelling the Myths
2015-07-03 3:28
History books, the media, the school systems, etc abound in falsehoods and inaccuracies of Confederate and Southern history. This fact sheet will help to clarify and dispell some of these rampant inaccuracies. MYTH - The War of 1861 - 1865 was fought over slavery. FACT - Terribly untrue. The North fought the war over money. Plain ...
Gays Rights May Open Door for Pedophile Rights
2015-07-03 3:31
Democrats have attempted to normalize pedophilia as a sexual orientation. A recent Supreme Court ruling on same-sex marriage may soon allow pedophiles to argue they are suffering discrimination. “Using the same tactics used by ‘gay’ rights activists, pedophiles have begun to seek similar status arguing their desire for children is a sexual orientation no different than heterosexual or homosexuals,” writes Jack Minor ...
More News »