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Financial Friday: A Tale of Two Europes
February 12, 2010 02:07 PM
The European leaders on Thursday pledged to help Greece with the 53 billion Euro in financing it needs to cover its deficit and debt obligations this year and in the future. Although still not specific, the pledge was an unprecedented move in the 11 year history of the Euro, whose 16 member countries have always viewed financial independence and economic sovereignty as paramount.Senior Analyst Peter Skøttegaard Øemig joins us in the studio to talk about how Europe arrived at this split and whether all the concern about Greece leaving the Euro cooperation is - or ever was - realistic. Investors should now begin keeping a close eye on Spain and Italy, he says, because if they get into trouble, even Germany and France will not be able to bail them all out.
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