Euro Doom Scenario Beginning?

By: Ian Campbell | Thu, May 26, 2011
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Several articles and much media coverage over the past few days are pointing to what appears to me to be inexorable progress toward an escalating problem with the Euro. In a nutshell as I have been reading things, concern over the fiscal situation in Greece has continued to deteriorate over the past week. Even more to the point, the elections held in Spain late last week have brought to the fore what are said to be understated Spanish State and Municipal debt in a country that is reported to have overbuilt housing, and an employment rate of about 20% (with about 40% youth unemployment). Spain is a much bigger economy than either Greece or Ireland, and if Spain's economic problems continue to worsen what I am reading and listening to may well lead to serious escalation of the EuroZone debt problems. Physical gold sits at U.S.$1,525 as this morning, allegedly up significantly on Monday and yesterday as a result of increasing EuroZone concerns. As an aside, I think there are so many things that currently affect the day/day price of physical gold that to attribute gold price increases/decreases to specific, individual factors has to be simplistic in what is increasingly an ever more complex world.

Some articles you might want to read dealing with EuroZone (and Spain) issues include:

The more I read and think about the EuroZone, the more I conclude any investor in equities, physical gold, or physical silver owes it to themselves to read each of these four articles, think carefully about their content, and then in the context of their respective investment strategies read and listen to everything else on the EuroZone financial issues they can find.

 


 

Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
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Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at icampbell@srddi.com.
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