THE IMF DOES NOT GIVE A ROSEY PREDICTION FOR THE FUTURE OF EUROPE.
CUT BACKS IN CONSUMER SPENDING THROUGHOUT EUROPE HAS PLACED EUROPE IN A NEGATIVE GROWTH PATTERN. THE IMF PREDICTS VERY, VERY SMALL GROWTH IN THE NEXT SEVERAL YEARS.
MAJOR EUROPEAN BANKS ARE PREPARING TO CUT 2.6 TRILLION EUROS FROM THEIR LEDGERS. THIS IS A CUT AND RUN POSTURE. THESE BANKS WHICH HOLD MUCH AMERICAN RETIREMENT FUNDS AND INVESTMENTS COULD EFFECT ALL YOU PEOPLE WHO HAVE INVESTMENT FUNDS WHICH DEAL IN EUROS.
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