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ECB's Bond-Buying Program: The Answer to Europe's Debt Crisis?
Read Global Market Perspective to find out whether investors' faith in the bailout fund will be rewarded

By Nathaniel Williams
Mon, 19 Nov 2012 16:15:00 ET
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"Audacious," declared the Wall Street Journal about Europe's bailout. "Shock and awe," said an EU finance minister.

Yet these comments were not of the most recent bailout, nor any from the past two years. These comments were actually about the first bailout of Greece ... in May 2010.
 
Alas, we all know how the story has unfolded since then. More shocking than the proposed solution was the speed at which debt problems spread from Greece to Ireland, Portugal, Spain and Italy. And European leaders have tried to douse the fire with many more audacious bailouts. None of them have solved Europe's debt crisis, to the surprise of many conventional observers.
 
But you didn't have to be surprised by this turn of events. Readers of EWI's monthly 50-page Global Market Perspective have been one step ahead of Europe's debt crisis every step of the way.
 
Case in point: Back in Feb. 2010, long before Greece's first bailout, European market analyst Brian Whitmer wrote:
 
"Greece's woes aren't over and neither are its neighbors'."
 
Just four months later, nearly every country in Europe said they would avoid a Greek-like fate.
·        "Italy is not in the same situation as Greece." -- then-ECB president Jean-Claude Trichet
·        "Spain is not Greece." -- The UK Guardian
·        "The U.K. is no Greece." -- The Telegraph
 
Yet the June 2010 Global Market Perspective went against the grain to say:
 
"The only thing separating these countries from Greece is the fragile confidence that they are, indeed, distinct."
 
When you survey Europe's financial landscape, Whitmer's words have proved to be prescient: Spain is now flirting with bankruptcy -- and Italy struggles under a higher debt burden than Greece, Portugal and Ireland combined.
 
Despite these frightening realities, the European Central Bank's new unlimited bond-buying program is raising hopes in the region again. Even many German skeptics were convinced after a two-hour meeting with ECB President Mario Draghi. "Investors' faith in the bailout fund seems virtually unshakeable," writes Whitmer.
 
Has the tide finally turned in Europe? The November Global Market Perspective gives you a crystal-clear answer -- along with 50 pages of analysis you simply won't find elsewhere -- from a source you can trust.
 
Whitmer tells you that "some of the biggest puzzle pieces to date are now falling into place." Find out what the developing global market trend portends for your portfolio. Details>>
 
* * * * * * * * * * *
Yours risk-free for 30 days:
50+ Pages, 40+ World Markets, 1 Source 
 
"I was thoroughly impressed by the penetrating insights and the in-depth market analysis, well supported with charts, statistics, historical vignettes, and holistic macroeconomic perspectives." -- R.N.
 
With 40-plus markets and 60-plus charts, Global Market Perspective is your road map to global investment opportunity. Each issue represents more than 1,000 hours of research by the entire team of EWI analysts working for you.
 
The latest November issue gives you our latest insights into Europe's debt crisis -- along with independent, comprehensive forecasts and analysis for global stocks, currencies, interest rates, gold, silver, crude, natural gas, social trends and more.
 
BONUS: Get instant access to EWI’s 35-minute subscriber-exclusive video, "Is Europe as Bad as it Looks? Or is it Worse?" Brian Whitmer brings you up to speed with our analysis of Europe's debt crisis and then prepares you for what's next.
 
 

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