Eurozone crisis: "An intense game of chicken that can be solved"
Investors are captivated by fear of default contagion, driving market liquidity to determine sovereign solvency. This is wrong, but there is reason for optimism, says Western Asset.
A design flaw in monetary union is to blame for the eurozone crisis, although the prospect of a catastrophic breakup remains remote and there are grounds for optimism, a forum has heard.
Michael Story
Speaking over a lunch hosted by Legg Mason Global Asset Management and its affiliates in Hong Kong (in advance of the debt deal announced by European leaders yesterday), Michael Story, a London-based product specialist for Western Asset Management and a former Federal Reserve…
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