Euro: How save to it

The Euro Crisis is a result of the likely default of Greece followed by Portugal and Ireland. The ECB says that Greece will not default. This may politically correct, but it is wrong. Greece will default as illustrated by my book. To cope with the Greek bailout, the ECB has set up a $1 Trillion bailout fund, but this will be inadequate. Default is not the only problem facing the Eurozone. A Greek Default will cause an interest rate spike which will cause $Trillions in losses in Derivatives, especially Interest Rate Swaps. This will swamp the Eurozone bailout fund. What should the ECB do? This book outlines a plan.

William Thayer has a background in Math (BS), Physics/Engineering (MS) and a Masters in Business Administration. He has no PhD in Economics so how can he write a book on the Euro Crisis? The answer is that he is not afraid to think. Most economists are trapped in thinking that all economic problems are simply addressed with interest rates, money supply etc. Actually it is more complex thant that. For example, the $600 Trillion Derivative market will have a dramatic effect on the Euro Crisis. Keynsian or Supply Side economics are not going to supply the answer to this problem. Some analysis, which is typical of science/engineering, is required. Mr. Thayer is better off in this area than most economists.