Sunday, October 09, 2011
Stanley Fisher, our Zimbabwean central banker, says that the problem is political. If Merkel assumes responsability for the fraudulent debts of Greece and other disliked countries, she is sure to lose the next elections. Is she does not and lets Greece, Italy, Spain's debt become worthless, all European banks will crash, and she will lose the elections. Not a "win-win" situation. Fischer says Israel is strong but we may feel the storm.
Now, at J's microinvestor level, what is to be done? TASE is very low, will it rise in tandem with Nasdaq or fall with Frankfurt?