Friday, Feb 27, 2009
End of the Euro?
Bloomberg: Euro Area Risks Breakup on Bank Woes, Subprime Bear Hayman Says
Feb. 27 (Bloomberg) -- Hayman Advisors LP, the firm that earned $500 million betting on the U.S. subprime mortgage-market collapse, says Europe’s monetary union is about to fall apart.
Richard Howard, a managing director for global markets at Dallas-based Hayman, said Germany may opt to shore up its own economy, Europe’s biggest, rather than bail out fellow euro nations such as Austria, Italy and Spain as their banks sag under the weight of bad debts. That might lead to defaults and compel Germany to renounce the euro, he said.
Posted by flintster1994 @ 05:11 PM (319 views) Add Comment
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