Natixis: EU Should Acknowledge Cyprus And Portugal Are Insolvent

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Cyprus, Portugal, and possibly other EU countries are insolvent despite EU claims that they are stable, says a new report from French investment bank Natixis SA (EPA:KN) (OTCMKTS:NTXFY). The report claims that the infusion of loans is just a quick fix that denies the reality of the situation and sets these countries up for a harder fall down the line. Natixis: The IMF rethinks its position on Greece The report starts by pointing out that in 2009 the Troika (the European Commission, the European Central Bank, and the IMF) approached the Greek crisis under the assumption that finding stabilizing Greece…

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