"not only Germany's responsibility, but its duty to pool collective debt"
Darien, CT (PRWEB) July 24, 2012
In the remarks, posted on the Darien-based firm's website, Mr. Olympitis states that he believes troubles in Europe and monetary stimulus from the Federal Reserve will help cancel each other out and re-affirmed he expects the S&P 500 to end the year little changed from where it began.
The remarks warn that there is no short-term fix for the European Debt Crisis, but urged Germany to take aggressive action, stating that it was "not only Germany's responsibility, but its duty" to pool collective debt in a Eurozone from which it has been the main benefactor and issue the long-awaited Eurobonds.
Mr. Olympitis goes on to state that the bailouts were only effective as a tool to pay creditor nations back with their own money while "crippling debtor nations in the process". The firm's belief is that Germany will see the light before it is too late.
The firm still expects the S&P 500 to end the year around 1350, and again sees volatility increasing.
The full text of the remarks is available here:
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