This thread is now 20 months old.
Is it reasonable at this stage to ask how we define the terms "End Game" and "approaching"?
End Game, when Eurozone countries revert to their national currencies.
approaching, the tide advancing over several "lines in the sand" that had previously been crossed, despite being told "that'll never happen". The bailouts for example.
It's only a matter of time now.http://blogs.telegraph.co.uk/finance/je ... h-of-doom/
What it shows is the now extreme flight of foreign capital from Spain and Italy. As you can see, the graph only goes up to the end of January, but we know that the phenomenon has got, much, much worse since then. This Credit Suisse graphic (below) tells much the same story. Anyone who can has been getting their money out. Likewise, any foreign company doing business in Spain and Italy removes the money as soon as they get paid, driven both by concern over the safety of the domestic banking system and the possibility that these countries might end up leaving the euro. This has been pretty much one way traffic.