Drew Sandholm
CNBC’s Fast Money Halftime
11/29/2010
Faced with “almost terminal problems,” Dennis Gartman on Monday said the euro could soon unravel.
“Eventually, the euro breaks apart into a northern euro and a southern euro,” said Gartman, explaining that the Continent’s many languages, religions and cultures are too diverse for the singular currency to work.
Gartman said he thinks Europe’s debt troubles won’t stop with Ireland’s bailout and mounting concerns in Spain and Portugal. He thinks it’s a “rolling contagion from one country to the next,” which will likely claim Belgium next.
Being as he thinks Europe’s problems are long-term, he would sell any rallies in the euro.
With more than 30 years of experience as a currency and commodities trader, Gartman is a “Fast Money” contributor and publisher of the widely read “The Gartman Letter.”
Watch the video to see the full conversation with Gartman.
H/T Instapundit
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