The link below takes you to an article which concludes the recent eurozone agreement will last for two weeks. One has to say that the problems with the Greek economy and the problems in Portugal support the contention.
The joker in the pack is Italy, the world's eighth largest economy. Italy had to pay over 6% to move its recent bond sales, which most commentators believe is unsustainable. Added to which, what will the loose cannon, Berlusconi, do? Would Italy accept the level of control over its affairs as has been imposed on Greece? Do Italians feel slighted by the comments of Merkel and Sarkowsy directed at Berlusconi?
It all looks and feels very fragile and very dangerous.
http://www.telegraph.co.uk/finance/comment/liamhalligan/8857518/Why-the-latest-eurozone-bail-out-is-destined-to-fail-within-weeks.html
KENT COMMUNITY ACTIVIST: acerbic, carping, caustic, curmudgeonly,critical, cynical, grumpy, moaning, sardonic and plain speaking.
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