Ireland And Portugal May Only Be Stalling The Inevitable

Steve Barrow of Standard Banke and Tim Linacre of Panmure Gordon spoke to CNBC this morning about the situation in the eurozone and the threat of Spain.

  • 0:30 Steve Barrow: Ireland has done everything the EU has wanted up until now. It hasn’t worked. It shows that it doesn’t matter whose pace you do it at.
  • 1:25 Tim Linacre: What’s happening in Europe is that everyone is hoping Spain can solve problems as everyone muddles along with Portugal and Ireland.
  • 2:20 Barrow: Ireland is a banking problem, Greece is a public debt problem. But this doesn’t matter, the market sees the situation as being untenable.
  • 3:25 Linacre: Taking on the market ends up being futile. There is real risk of some sort of collapse. Markets will end up winning out.
  • 4:00 Linacre: The recovery of the euro since the Greek bailout has nothing to do with the Greek bailout and everything to do with externals like QE2.

Check out the details of the untenable situation in Spain >

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