Debt & Prejudice

A good opinion once lost is lost forever

That’s what Mr. Darcy  tells us in Jane Austen’s Pride and Prejudice (Chapter 11 for those of you who want to check). That’s probably a good way to describe the current way markets and investors are seeing the Euro and the Eurozone.

After the crisis in Greece, nobody will want to lend any money to Greece, leaving it no choice but to turn towards those that cannot turn away : Europe ; after that, the same doubts will be cast on Portugal, Spain, Italy, … and confidence in the whole  European economy will be lost.

As it seems, this confidence can be lost for a long time, even more since European Leaders really don’t manage to find a comprehensive and coordinated response to the crisis.

Of course the all point of Austen’s story is that, a once thought lost forever, good opinion can be gained back again…


3 Comments on “Debt & Prejudice”

  1. […] a comment » I have been quoting some classics of literature in the past: W. Shakespeare or J. Austen – and I also got some other quote from Homer by example up my sleeves… But  here, I am going […]

  2. […] mettre fin à la crise de l’Euro alors ? Je soulevais déjà ce problème en Mai dernier (!). Personnellement, je suis toujours en faveur d’une démonstration de jonglage par J.M. […]

  3. […] clearly don’t trust Greece can ever get ver its difficulties and for good measure is making sure that there is no way Greece […]

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