from Zero Hedge
Authored By UBS’ Larry Hatheway,
The Merkel-Draghi wager: Will it pay off?
Tracking the evolution of the Eurozone crisis has been like hacking your way through a dense jungle. The number of countries, political actors, policy institutions, and policy responses – not to mention acronyms! – makes seeing the forest for the trees all but impossible. In what follows I propose a framework to lift the field of vision and thereby gain some perspective. That perspective ought to help put into context the importance of last week’s Italian elections for Europe’s future.