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On new currencies – mark these predictions December 27, 2011

Posted by proeconomia in Main, News on Greece, On the crisis, Trade.

Check these two links from Handelblatt (you can translate them with Google): the first is an interview of the chief economist of Deutsche Bank, Thomas Mayer, who claims that the future of the eurozone depends on Italy and whether it will make it on time with its structural reforms.  He anticipates that Italy will make it and the eurozone will stay intact, otherwise his claim is a break-up of the eurozone. Still, he thinks that an exit of Greece from the eurozone now is not unthinkable, especially with a new Greek government unable or unwilling to go through with the austerity measures (mark the unwilling part!) The second link is about the potential agreement between Japan and China to use their own currencies for their bilateral trade, a prospect with serious global implications – especially for the U.S. dollar as a medium of interantional exchange and as a reserve currency and an increase in the importance of the Chinese currency.



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