Greeks In ‘Extend And Pretend’ Situation: CLSA’s Wood

In his weekly Greed and Fear report, CLSA analyst Christopher Wood looks at the drama unfolding in Greece. Wood sees the latest developments as an indication that Europe is headed toward an “extend and pretend” approach to Greece.

German Dominance

According to Wood, the demands imposed on Greece in the conditions of the recent bailout proposal is yet another indication of Germany’s Eurozone dominance.

“The German political establishment’s commitment to maintain the Eurozone in its current form, while admirable in theory given its history, is unfortunately destined to result in an upsurge in the divisive nationalism the whole project was [originally] designed to avoid,” Wood writes.

Pros And Cons Of The Eurozone

Wood praises…

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