UKIP's Nigel Farage Hits At The Core Of The Re-emerging European Debt Crisis


“The only way that Germany and Greece
work together inside a monetary union (Euro)
if the Greeks become like the Germans
the Germans become like the Greeks.

It ain’t going to happen.”

Nigel Farage, leader of the UK Independence Party, July 16, 2015

Nigel Farage could have easily substituted the word ‘Greeks’ is his quote above with ‘Spaniards’ or ‘Portuguese’ or ‘Italians’ or the ‘French’ for that matter. Unlike the United States of America, history books may write that the Euro Project was most likely doomed from the beginning when European sovereign nations came together sharing only a common currency (Euro) but not a common debt.

The real near term problem ahead for global investors and the global marketplace is the likelihood of serious contagion risk within the Eurozone. In the end, it is likely that the people, as opposed to the unelected officials in Brussels, will eventually seal the fate of the shared monetary union – and if the ongoing free-fall of the Euro/USD exchange rate (down over 25% in less than 24 months) is any indication, the outlook is looking quite gloomy.

Kirk D. Bostrom
Chief Portfolio Manager
Strategic Preservation Partners LP

Disclaimer: The views expressed are the views of Kirk Bostrom and are subject to change at any time based on market and other conditions. This material is for informational purposes only, and is not an offer or solicitation for the purchase or sale of any security and should not be construed as such. References to specific securities and issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations to purchase or sell such securities. The opinions expressed herein represent the current, good faith views of the author at the time of publication and are provided for limited purposes, are not definitive investment advice, and should not be relied on as such. The information presented in this article has been developed internally and/or obtained from sources believed to be reliable; however, the author does not guarantee the accuracy, adequacy or completeness of such information.

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