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Currencies  |  May 31, 2012 22:05:07

When people start running to the ATM, it will be too late

We all ordered the best wines, but now need to pay the bill. Germans may soon say that it's a bit much for them, saying goodbye to the euro area and return to the deutschmark, said in an interview with the news station CNBC exchange floor veteran Art Cashin New York Stock Exchange. Decay probability area estimated at 50%.

According to Cashin In recent weeks the situation has worsened especially in Spain, whose economy is the twelfth largest in the world. At the moment when Spain goes bankrupt, it will not rescue the euro area already in the hands of politicians, but citizens - until they start moving to the ATM, will be too late to pull the emergency brake.

Video, Art Cashin, you can see here:

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