Monday, June 27, 2011

French Economist Charles Gave: The Euro Will Not Exist in Another Year!

French Economist Charles Gave
In recent private comments given at a dinner with John Mauldin, French economist Charles Gave expressed his belief that the Euro currency will not be in existence in another year, an event which Gave believes will be wildly bullish for the world economy by returning Europe to national currencies. 
Could Gave be reading Jim Willie?
Dissolution of the Euro is looking more and more like the only viable option for Europe's debt crisis,
as Portugal, Italy, Spain, and potentially even France loom as even bigger debt crises should Greek's debt issues somehow magically be resolved.
When asked whether the Euro would fall to parity with the dollar Grave responded:

“The question is entirely irrelevant” – punctuating the air for added emphasis. “The euro will not exist in a year. The whole thing was dysfunctional from the beginning.”
I suggested that was a tad bearish.
“Not at all. I think it is extremely bullish. The demise of the euro and the return of national currencies will allow for proper allocation of investments and resources. It is the best thing that could happen for the markets.”