Monthly Archive for June, 2013

Deutsche Bank executive: “Only Jesus can save the Eurozone!”

Well, this is a surprising quote from Bilal Hafeez, who is head of the bank’s foreign exchange strategy department, during a recent speech at the annual Deutsche Bank Mittelstand (small and medium-sized enterprises) FX conference in Hamburg, Germany.The speech focuses on the euro area’s economic woes and the need for the currency block to move forward with further integration in order to be economically successful.

Hafeez likened the currency which was formed in 1999 to a 14-year-old teenager showing all the signs of puberty and causing parents all kinds of trouble!
According to Hafeez, “It has all the hallmarks of teenage angst. It is ridden with internal conflicts, it is groping around for structure, and it is suspicious of authority. So who can be a positive role model for the Euro-Area? Well it cannot be the “fathers”: Germany or France. It has to be an external figure that all Europeans respect, and whose motives and character are beyond dispute. That rules out anyone living as even the most competent person will make missteps or have something from their past dredged up to undermine them. That leaves us with historical figures whose lives have been laid bare by history. I can only think of one figure that is respected by most Europeans and has never sinned, Jesus!” Continue reading ‘Deutsche Bank executive: “Only Jesus can save the Eurozone!”’