Questions surrounding Greece's solvency and the resulting fallout continue to grow. In recent days, more than one commentator has openly asked if it's the beginning of the end for European common currency.
"Not so fast," says a prominent currency fund manager, who's actually in the process of buying euros. He argues that whatever happens, it will provide needed clarity and will positively impact currency markets.
So which is it; Midas riches or Icarus flight?
We took this debate to the nonpartisan Peterson Institute for International Economics. The D.C.-based think tank counts a former treasury secretary, current PIMCO head and a Rockefeller scion as board members, so we think they know what they're talking about.
Senior Research Fellow Jacob Kirkegaard has been with the Institute since 2002. Before joining, he worked with the Danish Ministry of Defense, the United Nations in Iraq and in the private financial sector. His research focuses on European economies and reform, pension systems and accounting rules, demographics, offshoring, high-skilled immigration and the impact of information technology. He's the author of four books on the topics.
