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Today, Daryl Jones (DOR), Keith McCullough (CEO), and Josh Steiner (Managing Director - Financials) teamed up to deliver an insightful and hopefully prescient presentation on the emerging European banking crisis. More than just a timely update to our Sovereign Debt Dichotomy theme, we take a deep dive into the European financial sector's liabilities and counterparty risk from a bottom-up perspective. Moreover, we walk through six probable scenario analyses for crisis resolution, in addition to providing our updated risk management views on several key asset classes.

To listen to the replay podcast of this call, please copy/paste the following link into the URL of your browser:


To download the presentation slides, please click on the following link:


As always, we're available to follow up with you should you have any questions. Please email or sales@hedgeye.com with inquiries.


In 1993, the Maastricht Treaty established the European Union and the path towards a monetary union and common currency in Europe.

On this path, the euro was launched in 1999 and has been a particular catalyst for criticism. Most notably, Nobel Laureate Milton Friedman stated in 1999 that he did not believe the euro would last ten years.

In contrast to Friedman's prognostication, the euro has lasted more than ten years, but just barely. In fact, many global markets are currently implying that Europe's monetary union and common currency are on the precipice of collapse.

Today Thursday, September 22nd, 2011, Hedgeye will be hosting a conference call to discuss the future of the Eurozone and the implications for global markets. The call will focus specifically on three topics: 

  1. Review of the history and structure of the Eurozone
  2. Assessment of the current situation and imminent risks and opportunities
  3. Analysis of potential and realistic scenarios to solve the crisis in Europe 

Please contact if you have any questions.  


The Macro Team