THE CLOCK IS TICKING ON THE NEXT EUROZONE CRISIS

"The battle lines have been drawn as the next evolution of the crisis in the Eurozone will likely be determined in the next 12-18 months as austerity runs up against the socialist agenda. The problems are real and the solutions are evident. In order for the Eurozone to survive the shift from a fragmented confederacy of states to a constitutional union with a primary central bank with the ability to issue its own currency is crucial. However, without unification under a binding agreement the future of the Eurozone is bleak and the next crisis will sweep the globe.

The problem today is “too many chiefs and no Indians”. The political dam has broken in Europe as German Chancellor Angela Merkel no longer has enough allies within the group of the EU prime ministers to impose her agenda. Merkel’s methodical plans are disintegrating on every front which means that sooner, rather than later, a confrontation is going to occur. The question will be whether Germany will bend to more a more socialist agenda, give up austerity measures and return to unbridled deficit spending or will a lasting compromise be reached. I currently believe that both outcomes are unlikely and it will resolve into a grudge match on a grand scale..."

at http://pragcap.com/the-clock-is-ticking-on-the-next-eurozone-crisis