Lisbon Gambit

“Felix Baumgartner raises the bar and try an even more impressive dive”

The word “gambit” was originally applied to chess by Spanish priest Rúy López de Segura, from an Italian expression dare il gambetto (to put a leg forward in order to trip someone). Lopez studied this maneuver in the broader sense of “opening move meant to gain advantage”.

The impact of other countries leaving the currency union would be more dramatic: «if Portugal went, Germany would lose €225 billion by 2020 and would have to write off credit amounting to €99 billion. Global losses in growth would add up to €2.4 trillion, with the US having to bear €365 billion and China €275 billion respectively.»

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