- During the first phase of the euro crisis, private capital flowed out of the “peripheral” countries to the core of the eurozone, but this shift had no adverse impact on the euro.
- Now, investors are taking their capital out of the eurozone altogether.
- The euro threatens to fall further, possibly leading to serious concerns about a devaluation spiral.
Full article here : http://europe.pimco.com/EN/Insights/Pages/A-Second-Wave-of-Capital-Flight-Reaches-Eurozone-Core.aspx
