Does the Eurozone Have Its Own Lehman Bros? - Money Morning

BY KEITH FITZ-GERALD, Chief Investment Strategist, Money Morning
Does the Eurozone have its own American International Group Inc. (NYSE: AIG), or worse, its own Lehman Bros. when it comes to Greece?

I believe it does.

Why else would the European Union have bent over backwards to 'save' a member nation that: A) Accounts for 2.01% of the EU by trade volume; and B) Would essentially be like letting Montana go out of business - no offense to Montanans or Montana!

More to the point, if things really were under control, why would European Central Bank President Jean-Claude Trichet say that risk signals for financial stability in the euro area are flashing 'red' as he did following a meeting of the European Systemic Risk Board in Frankfurt?"

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