Forget the Debt; There Are More Pressing Issues with the Eurozone
From Profit Confidential January 9, 2013 - 1:40am
With all of the recent focus on the fiscal cliff and now earnings, traders appear to be forgetting the massive mess across the Atlantic in Europe and the eurozone. Remember Greece? The European debt crisis took Greece down with two separate bailouts. It was so dire for this beautiful country on the Mediterranean Sea that Greece actually needed a second bailout to pay the payments on its first emergency loan, or risk default!
The reality is that the eurozone financial crisis is still around—the market just pushed it aside for the election, the fiscal cliff, and now earnings. But be aware that the problem overseas is not going away. Consumer confidence in the eurozone came in at a muddled -26.5 in December, according to the European Commission. I’m not sure about you, but I believe this cannot be good.
The problem with the eurozone is not only the massive debt loans that have impacted ...