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The problems in the Eurozone and the potential collapse of the Euro itself could be "catastrophic" according to Sir Dudley "Dumbo" Duddleston, Chief Executive of Hoggwartz Global Insurance.
"The whole Eurozone is teetering on the edge off the abyss, and on the verge of falling over, and the Eurozone countries need to pull back from the chasm before the whole edifice comes crashing down, tumbling into the gorge of devaluation and sliding into the canyon of bankruptcy" said Sir Dudley, extending the metaphor well beyond the acceptable norm.
The consequences could be enormous, said Sir Dud. "No CEO or chairman in the insurance/reinsurance industry will be unaffected. It will be devastating for these people. And I believe the ultimate outcome will be European fire-sales on an unimaginable scale. These people simply won't be able to afford expensive European operations," he said.
"They will have no choice but to sell their second homes in Tuscany," he added. "Holidaying in Europe will simply be too expensive. Still, the Swiss ski chalet should be OK."
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