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John Paulson FT Op-Ed


bmichaud
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http://www.ft.com/intl/cms/s/0/43c76028-2645-11e1-9ed3-00144feabdc0.html#axzz1gcTA5O1Z

 

JP proposes the ECB implement a temporary SD guarantee program that allows the sovereigns to refinance at reasonable rates and takes the stress off the banking system, similar to the FDIC guarantee program for financial company debt.

 

Appears to be a reasonable solution in the near-term, but does not address the long-term problem of a lack of a central treasury to balance out trade deficits across the eurozone.

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