(2012-05-07) European Elections

Europe had a bunch of elections.

Nouriel Roubini and Albert Wenger agree the results were anti-incumbent and anti-austerity. The risk that Europe (EU) will come apart with nations exiting the Euro and significant political and social upheaval to follow is now bigger than ever... I believe if you know you have to raise money soon, you should do it even sooner than you thought you would. And if you have an existing strong syndicate you need to control your burn so that syndicate can finance you should new financing dry up. The music can stop at any moment and when it does the change is dramatic.