Welcome to the weekend edition, a small collection of links to interesting personal finance related articles and economic news from around the web.
What’s the probability of dying in a plane crash? That would be the same probability for witnessing the Euro zone breakup in my opinion. It’s still a possibility but I just don’t see it happening anytime soon. The German tax payer can protest as much as he likes for footing the bill of the weakling euro members, the fact remains there is “no way back” from the euro as the German Bundesbank president Axel Weber declared on Wednesday.
If Germany decides to revive the Deutsche Mark, they will have a problem on their hands. The mark will be strong and it will impact their exports. If a member of the PIIGS is kicked out or leaves on his own, that member will be in worse shape as it will cost him billions in order to revive its currency.
“Investors” should stop being drama queens every time European debt woes make the headline. We’ve seen this movie before featuring Greece and we will see the same movie again featuring the next actor in line (currently Ireland). We know how the movie ends, they will all get bailed out and if the 1Trillion Euro fund is not enough, the ECB will make sure the right amount will be provided (read printed).
I really doubt Europe is that sad for its currency losing value, its exports will benefit! Hopefully on Monday, the “investors” choose to focus on the upbeat sales of Black Friday by coloring the indexes green.
Spain’s PM says no chance bailout needed
On to our weekly blog roundup:
Canadian Business Blog: What some DIYers seem to overlook
Enjoy your weekend!