GMO White Paper - The Pain in Spain
Because that is all it is going to be for long-term investors: nothing but noise on a long journey.
Buffett said this week that 10 years from now Europe will be operating fine. He doesn't know if the euro will still exist, but at some point things will get better.
But while we endure the daily annoyance that Europe has become we might as well understand it.
Here is a GMO look at Spain: