One of the most senior partners of Goldman Sachs (GS) and new chairman of the company’s asset management division, Jim O’Neill, has told the Sunday Telegraph that the Eurozone must become more fiscally and politically intertwined for the euro to survive.
He also put the value of the euro at €120 to the dollar saying that the euro was overpriced by at least 10% and should carry a risk premium.
He also put the value of the euro at €120 to the dollar saying that the euro was overpriced by at least 10% and should carry a risk premium.
"You have to consider that very extreme outcomes could be possible. I’m generally a person that sees the glass half full, but there are aspects to this European situation that could involve some pretty ugly developments.” He said.
Note EU-Digest: Goldman Sachs should be the last to try and teach the EU a lesson: Latest US Federal Government Data shows Goldman Sachs was borrowing from the Fed’s Term Securities Lending Facility most weeks from March 2008 through April 2009 to remain solvent. Two units of the New York based Goldman Sachs borrowed as much as $24.2 billion from the Fed’s Primary Dealer Credit Facility in the weeks after Lehman Brothers Holdings Inc.’s bankruptcy in September 2008, the data show.
Note EU-Digest: Goldman Sachs should be the last to try and teach the EU a lesson: Latest US Federal Government Data shows Goldman Sachs was borrowing from the Fed’s Term Securities Lending Facility most weeks from March 2008 through April 2009 to remain solvent. Two units of the New York based Goldman Sachs borrowed as much as $24.2 billion from the Fed’s Primary Dealer Credit Facility in the weeks after Lehman Brothers Holdings Inc.’s bankruptcy in September 2008, the data show.
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