Thursday, October 6, 2011

Thur Post #2: IMF advisor says we face a Worldwide Banking Meltdown

It appears that between 2-4 Trillion Euros will be required to stabilize the European Debt Crisis.

Dr. Robert Shapiro who advised Presidents Clinton and Obama and who currently advises the IMF predicts a cascading meltdown of the World's banking system starting with Sovereign debt in the Eurozone, affecting the UK then finally bringing down the global banking system.

Shapiro starts off directly by advising that if European leaders cannot address this in a credible way that "within 2-3 weeks we will have a meltdown in Sovereign Debt that will produce a meltdown across the European Banking System."


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