Eurozone May Survive Grexit, But Italy, Spain Exposed to Increased Risk

The periphery scenario keeps coming back. On another note, this isn’t the first time warning trumpets have been sounded over Spain or Italy. You can find more information on them HERE and HERE. And while we’re at it, lets not forget about our friends in France, either.

Lastly, never forget the bigger picture: It was known the Euro would fail in the greatest heist of all time.

 

WASHINGTON (Sputnik) — The European Union and the international financial system can survive a Greek exit from the Eurozone, or Grexit, but a greater danger is that it could set off a domino’s effect forcing Spain and Italy to pull out as well, experts told Sputnik.

“As long as it’s just Greece, then I think the consequences for the United States will be very limited, and that’s because the US market already have factored in, that they’ve priced in a high probability of Greek exit,” Institute for Economic Affairs Deputy Editorial Director Richard Wellings in London said on Thursday.

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China Sounds Alarm on Global Economy at APEC Summit

China sounded the alarm about the state of the global economy on Saturday and urged countries gathering at an Asia-Pacific summit to protect themselves by forging deeper regional economic ties.

Russian President Vladimir Putin had also expressed concern about the world economy on Friday, and particularly about Europe’s debt crisis, as he prepared to host the annual APEC summit in the Pacific port city of Vladivostok.

“The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties. The underlying impact of the international financial crisis is far from over,” Hu told businessmen in a speech before the summit.

Russia sees the weekend summit as a chance to make a pivotal shift away from Europe, increasing political and economic links with countries in Asia that are showing relatively strong economic growth as Europe struggles with its debt crisis.

Full article: China Sounds Alarm on Global Economy at APEC Summit (CNBC)