Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 2nd of April.
Rearranging The Deck Chairs On The Titanic
Yesterday, it was reported that a “a company owned by in-laws of Cypriot President, Nicos Anastasiades, withdrew millions from Laiki Bank on March 12 and 13," according to an article published in Cypriot newspaper, Haravgi. Today we are learning that Michael Sarris, the finance minister of Cyprus, has resigned. I expect we will be seeing more revelations coming out of Cyprus in the days and weeks ahead. I believe that Cyprus is the tip of the iceberg and is the catalyst of destruction in Europe. With unemployment in Europe officially at 12% and unemployment for young people in Spain at 55%, one can only think it's a matter of time before things erupt into civil disobedience. Europe cannot grow itself out of this mess and the austerity measures being demanded provide little to no hope for Europe to survive. Under its present economic and political circumstances, I think it's only a matter of time before the ship goes down with no lifeboats! Continue reading "Today's Video Update: Rearranging The Deck Chairs On The Titanic"
