April 26, 2011
This morning, eurostat data showed that Greece's austerity measures have done little to tame the country's deficit. Germany's political elite are now calling for a restructuring, and they want it sooner, rather than later.
But European authorities may have waited too long, according to Waverly Advisors:
Clearly a restructure is now inevitable, but is it sellable? Probably not. Core state leaders have waited too long and are now stuck between a rock and a hard place. Any fresh "band aid" measures at this junction will be poorly received by the market, while decisive restructuring will alienate voters in Germany and other wealthy states.