The clock is ticking. Germany continues to resist a greater European Central Bank role while promoting stronger fiscal responsibility. It pushes for change in the name of greater EU unity, but unity means stronger nations must be willing to help troubled nations when the need arises. None of the proposed legislation in Europe provides a short-term solution to the current debt crisis – that part will have to come from the ECB. The longer it remains on the sidelines the greater the damage.
Read the rest on Project Syndicate.
The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.
Any reference to the advisory services refers to Personal Capital Advisors Corporation, a subsidiary of Personal Capital. Personal Capital Advisors Corporation is an investment adviser registered with the Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training nor does it imply endorsement by the SEC.