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Europe Quotes

“What worries me, especially, is that public opinion over here is patting itself on the back every morning and thanking God for theAtlantic Ocean (and the Pacific Ocean). We greatly underestimate the serious implications to our own future.... Things move with such terrific speed these days, that it is really essential to us to think in broader terms and, in effect, to warn the American people that they, too, should think of possible ultimate results in Europe and the Far East.”

“At the moment we are facing a whole collection of difficult to forecast developments from the situation in China and the oil-price crash to the worrying news from some banks in Europe and the US. All of that is linked: Worldwide company debt is high and there is a lot of money in circulation. That is why necessary structural reforms are not being made.”

“Italy spills over to everything. Italy is a huge banking system. It has been the major banking system in Eastern Europe. It's worked with Austria's banking system. There's all sorts of interplays there. So it's not the PIIGS one should worry about. Germany hasn't even begun falling yet. And when Germany falls, and it will, that's when the panic begins to set in.”