What Do Spain And Greece Have To Look Forward To? SocGen Answers: “Not A Lot”



The increasingly short-termist attitudes of both policy-makers, analysts, and investors leaves market and economic indicators in the US and Europe all anticipating some magic in 2013. If only we can get through the elections, the fiscal cliff, a banking union, a Spanish bailout request, Greek extensions; not to mention another round of weak earnings and a sliding Chinese demand backdrop. As SocGen’s FX and Rates desk notes, the battle against disinflation in Europe is not over and nominal GDP outlooks remain far too optimistic – only highlighted by the morning’s weak lending data.

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The deleveraging has a long-way to go! following Japan’s path…

http://www.zerohedge.com/news/2012-10-25/what-do-spain-and-greece-have-look-forward-socgen-answers-not-lot

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