UBS:Euro Currency wars/crisis will lead to world war or fascism.

Discussion in 'Economics' started by Grandluxe, Sep 6, 2011.

  1. why all non-euro skeptics are advised to shield their eyes and look away from the just released report by UBS (of surging 3 Month USD Libor rate fame) titled "Euro Break Up - The Consequences."

    Yet where it gets scary is when UBS quantifies the actual opportunity cost to one or more countries leaving the Euro. Notably Germany:

    "Were a stronger country such as Germany to leave the Euro, the consequences would include corporate default, recapitalisation of the banking system and collapse of international trade.

    It is also worth observing that almost no modern fiat currency monetary unions have broken up without some form of authoritarian or military government, or civil war."

    A little more on that particularly troubling last point:

    Do monetary unions break up without civil wars?

    Read More: