Sunday, April 07, 2013

My Review of "Europe's Financial Crisis"

3 out of 5 stars....


This book is pretty good in describing the steps which led Europe to its current problems and juxtaposed America's handling of its financial mess which also became part of Europe's mess.

Anyway, the book does think pretty much all financial markets have been tampered with such that their future directions are more uncertain than usual. As for Europe, more planning for the Euro should have happened especially since there are significant problems remaining, mostly political. Weak nations can be bailed out, but it is doubtful politics will allow that, so probably too much austerity will still lead to real recovery being delayed. The author does think it would be wise if a few of the smaller/weaker nations left, but that still would leave Spain and Italy, two nations too large to leave but with much different politics than the strongest nations. So, it is hard to see things working out well in the foreseeable future.

So, a good book in laying out what has happened, but it doesn't seem to me there are any great revelations as to what might happen.

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