AS problems mount in the euro zone, it’s increasingly evident that we’ve been witnessing an institutional failure of monumental proportions.
What is to be done about Greece? Simply keeping it in the euro zone won’t help much, even if it’s possible. The continuing crisis has sapped confidence in banks not only in Greece, but also in Spain, Italy, Portugal and Ireland, though to varying degrees. Unless there are explicit guarantees to these banks soon, the market will likely take a further turn for the worse.
An absence of guarantees could prompt a broader chain reaction of capital flight and bank collapses across several countries.
The much anticipated IPO of Facebook took place Friday week ago with the shares closing only marginally above their issue price of $38. JB Were Global Investment analyse how expensive they are compared to other technology stocks such as Apple and Google