Well I bought now after the big correction, I also had money in hand after securities became liquid. We will see in a couple of years if it was the right solution.
Greece is really the European Achilles’ tendon in the sense that Spain, Italy and Portugal would likely not suffer so much without the pain in the birthland of Hippocrates. It really does test the investors and EU and has already crossed bounderies, for example with the haircut, that were far from the mind of almost anybody a couple of years ago.
The ECB must step in Now, and do it's injections. With credits as tight and money circulating as slowly through many European economies there is no big inflation risk in the short term in most of Europe. The healthier countries like Germany and Austria are more likely to have a higher one, which is of course exactly what neither Frankfurt nor Vienna want. Finland and the Netherlands as well as the relative poor countries like Slovakia, Slovenia and Estonia are also not keen on it. The latter two have still a smaller GDP per capita then Greece which makes the feeling about transfers not better.
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