Italy at breaking point; fears grow of euro zone split

[Captain Oates 910]

Northern Europe can still buy olives from it's southern neighbors. That doesn't require a common currency. They'd just have to pay in Drachma, Lira or Pesetas. It's been done before the EUR came about. Everyone going to Italy for vacation was a fcuking millionaire back then.

It's only the banks that are high and dry and the ECB will find a way to print money to shore them up.

As in the US, its only the working class that will suffer and the Northern European companies are doing great. US companies also are making record all-time profits

I am not convinced about inflation because that requires demand - and there isn't any. What is happening is that the excess money surplus is either held on deposit or put into the stock market or bonds. I reckon it wont get spent.

That means that the companies can be fine while the economy and the average person's life is in recession

That can go on for many years with no jobs, flat housing prices, and much depression, obesity, suicide and reality shows and Kardashian marriages and Cain accusers and intellectual giants like Rick Perry being popular.

Luckily, my income is 100% inflation protected and 100% guaranteed by the UK govt who backstop my healthcare 100% at zero cost.

So I am just an interested spectator in the game. The economy beat me to a pulp in 1995 so I know how it feels and I am sorry for the rest but there is little I can do except advise them to turn away from their gods and get a life.

[mawilson 2,133]

That means that the companies can be fine while the economy and the average person's life is in recession

Only if they can find demand elsewhere - India, China, other emerging markets.

Otherwise, how can they grow and beat estimates?