Anyone needing a quick summary of the main tension lines in Europe as they currently stand can probably not do any better than the attached explanation by Kyle Bass.
The video below explains more than a full day of watching the financial funny channel from basic cable. In a nutshell: Europe is about to see trillions in debt written down (the only mathematical explanation which makes sense), the “profligate idiot” spenders of Southern Europe are not going to be bailed out by Germany, which has decided it has had enough of the “Mexican standoff” within the Eurozone, and will not be held by the short hairs any longer. And as for the quote that captures the total and utter chaos in Europe: “they have a German pope and an Italian central banker.”
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