Nouriel Roubini was on Bloomberg this morning discussing the issues with the Euro-zone. Roubini stated that while right now Euros are rushing to the perceived safety of France, fundamentally France is no different than any of the other peripheral Euro nations which are failing.
We expect France will become the center of the crisis once Greece and Spain have completed the cycle, as focus must be kept off of the UK and the US. Once France is fully engulfed in the debt crisis flames, then-and only then, attention will focus to the US and the UK, and the real crisis will begin. The debt crisis will become F UK US PIIGS.