(TELEGRAPH) — Morgan Stanley has warned that the Greek debt crisis is setting off a chain of events that may prompt German withdrawal from the eurozone, with grim implications for investors caught off-guard.
PID COMMENT: EMU is the European Monetary Union, basically all the EU countries that use the ‘euro’. Germany has been cozying up to Russia lately, including participation in several major Gazprom ventures (such as the Nord Stream pipeline). This might be Merkel’s excuse to jump ship to join Putin’s crew. If Russia IS the nation from the north described in the Gog/Magog invasion of Israel, then Germany’s alliance shift makes sense.