In the Media

Avoiding the Worst

Posted Monday, November 21, 2011

Yvan Loubier


  • IMG Avoiding the Worst

In a piece published in the November 21, 2011 edition of La Presse, Yvan Loubier, Senior Consultant and Economist from NATIONAL’s Quebec City office, explains that if the financial situation keeps deteriorating like it has over the past few days, Germany certainly won’t be able to resist much longer to the storm sweeping Europe.

With more than 200 billion euros in public debt securities from the euro zone’s most crippled countries, the country that has so far managed to avoid the contagion is now facing a wall. Without the cooperation of German Chancellor Angela Merkel, who refuses the short-term solution of an intervention from the European Central Bank to halt the euro zone's accelerating debt crisis, the worst can be feared and a financial catastrophe almost seems inevitable.

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