Lee Buchheit, fairy godmother to finance ministers in distress
Lee Buchheit, a lawyer at US firm Cleary Gottlieb, has been present at all the major debt crises of the past three decades. His reputation among investors is as a fearsome and aggressive litigator, but finance ministers in distress see him as something of a fairy godmother.[more inside]
Starting last month, the French daily Le Monde has been publishing an economic thriller in series, called Terminus pour L' Euro (in French) (The End of the Line for the Euro). The series is behind a subscription wall, but Presseurope has started republishing the series in ten languages, including English... The story narrates the events of summer 2012, as Germany decides to leave the Euro and what follows. It has caused a stir in France, as rumors about the true identity of the author (who signs the series as Philae, after an island in Egypt apparently) continue to circulate, and some think he is the French agriculture minister Bruno Le Maire. Some say that the rumors that led to the precipitous fall in French banks' stock a few days ago, were due to misunderstanding the fictional character of the story... Real rumors that Germany threatened to leave the Euro last year, were dismissed by its Chancellor, yet as the eurozone crisis develops, no one is certain any more that the series is simply fiction and not a possible, real scenario, advocated by many...