I Was Wrong
Expectations for the European summit were low. German Chancellor Angela Merkel's comment set the tone when she stated there would be no joint debt liability "as long as I live." This was widely assumed to mean that Euro bonds were off the table. There are still no plans for Euro bonds, but what emerged from the summit overnight is indeed a form of joint liability and a step toward a fiscal union.
And I didn't see it coming. That's going to happen in this business. My mentor Dollar Bill used to tell me that it's OK to be wrong, just don't be wrong for too long....429 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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