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Dover Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 10:57 AM
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US bank warns of eurozone breakup 'pandemonium'
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Source: AFP

Citigroup economist and former central banker Willem Buiter warned Thursday that a fully blown breakup of the eurozone could spell a global depression with unemployment of 20 percent and economic pandemonium.

Sketching a stark picture of the stakes facing European leaders as they gather in Brussels to discuss how to save the single currency, Buiter said a breakup would unlikely be planned, orderly or gradual.

Buiter, a former Bank of England policy maker, predicted in a research note that a breakup would be "disruptive, destructive and without any winners."

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  -US bank warns of eurozone breakup 'pandemonium' Dover  Dec-09-11 10:57 AM   #0 
  - I read the post and the link. I need someone to explain it to me.  russspeakeasy   Dec-09-11 11:11 AM   #1 
  - Of course you can, but they won't tell you that. Only that have even mores  Javaman   Dec-09-11 11:40 AM   #3 
  - That was my impression. I guess I was just looking  russspeakeasy   Dec-09-11 11:45 AM   #4 
  - the winners have already cashed out.  uncle ray   Dec-10-11 01:43 AM   #17 
  - Potential banking failure frightens bankers?  HereSince1628   Dec-09-11 11:20 AM   #2 
  - Golly gosh that's a posh word  dipsydoodle   Dec-09-11 11:50 AM   #5 
  - This sounds like "too big to fail" all over again.  Renew Deal   Dec-09-11 11:54 AM   #6 
  - Too big to flush, so let's just let it float.  russspeakeasy   Dec-09-11 12:25 PM   #8 
  - Marked for later.  pam4water   Dec-09-11 12:18 PM   #7 
  - No big deal  Po_d Mainiac   Dec-09-11 12:33 PM   #9 
  - Then let it break.  Daemonaquila   Dec-09-11 01:07 PM   #10 
  - SPOT ON! eom  greyghost   Dec-09-11 02:21 PM   #12 
  - Failures and crises are built in to the capitalist system  socialist_n_TN   Dec-09-11 08:29 PM   #15 
  - Ya' know...  watajob   Dec-09-11 02:05 PM   #11 
  - Banks don't want that...  AnneD   Dec-09-11 02:38 PM   #13 
  - Those bankers need to pull themselves up by their boot straps.  sarcasmo   Dec-09-11 04:49 PM   #14 
  - "...breakup of the eurozone could spell a global depression..."  unkachuck   Dec-09-11 08:41 PM   #16 
  - Try explaining that very slowly to some of our Euro-sceptics  T_i_B   Dec-10-11 01:47 AM   #18 
  - So, let's throw another few trillion at them? Is that the answer? nt  DCKit   Dec-10-11 05:06 AM   #19 
  - The bankers version of begging.  sarcasmo   Dec-10-11 05:36 PM   #20 
  - I think this is panic-mongering of the worst sort. From my perspective, the  coalition_unwilling   Dec-10-11 05:47 PM   #21 
  - how is this different from 'business as usual?'  AlecBGreen   Dec-10-11 07:47 PM   #22 
  - Spain Italy Greece Ireland Portugal have a choice  lovuian   Dec-10-11 08:41 PM   #23 

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