UBS: Euro break-up – the consequences

The following is excerpted from today’s UBS research note by Stephane Deo, Paul Donovan and Larry Hatheway on the consequences of a euro break-up. The full note is embedded below.

Also see The recession is over but the depression has just begun which predicts an austerity that leads to the more “muscular form of government” UBS sees. On eurozone break-up, see Nouriel Roubini’s post “The Eurozone Could Break Up Over a Five-Year Horizon.”

The Euro should not exist (like this)

Under t...

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