Bank of America's (NYSE:BAC) CEO Says Euro Survived Major Test

Comments from Bank of America's (NYSE:BAC) CEO Brian T. Moynihan that the euro has survived a major test and is "holding together," seems to be a very premature conclusion to draw, as the EU sovereign debt crisis hasn't went away by any means.

This was in response to the rescue packages awarded to Greece, and then Ireland, in 2010, along with concerns over other countries and their ability to remain solvent.

Moynihan stated, “We see the euro holding together; it’s a committed-to structure. We think it’s fundamentally there and it’s survived a major testing.”

We think the major testing is still going on, and the worst is yet to come with the euro. Greece and Ireland were the easy countries to deal with, and they had the euro back on its heels. If one of the stronger economies have to be bailed out, it's doubtful the euro could survive, or at best, some countries would probably leave it.

Bank of America was trading at $13.76, gaining $0.09, or 0.62 percent, as of 11:47 AM EST.