AUTOREFRESH 
CEBR urges Greece to bolt the euro
By Jamie Coleman || May 30, 2010 at 15:23 GMT
|| 29 comments || Add comment
It’s only a matter of time, says the think-tank.
So much political capital is now invested in keeping the euro together, I don’t see this happening anytime soon. The impact on the banks would be catastrophic as well. Expect the EU, IMF, and anyone with a credit card to be asked to pony up to keep this house of cards standing…
“Expect the EU, IMF, and anyone with a credit card to be asked to pony up to keep this house of cards standing…”
I just wish there weren’t so many credit cards in the U.S.. Got a felling that our IMF contribution is just the beginning. Then again, we may need to pony up for our own banks if credit strains don’t start easing…
The Onassis family could pony up a bit, no?
If it does happen, why is it necessarily a euro negative? I mean, if the weakest link is removed the overall union should be stronger, or? If the rest of the PIGS leave, again it’s the weaker members departing leaving the strongest.
This is a bit old, but apparently tax evasion is a cultural norm in Greece: http://www.nytimes.com/2010/05/15/world/europe/15greece.html
any bets on where Eur is going to open in Asia
My guess is we open around 2190 or 2200 and Asia takes it directly down to the big fibo for a real test.
It could get ugly with US markets closed tomorrow. A heavy selloff in Asia would fill the order books with sell orders for the Tuesday open — for equities, that is. The bottom line, if it’s ugly in Asia, watch out for the US open…
As for the euro, I’m not sure where it will open, but I got a feeling we’ll be flirting with the 1.20 handle this week. If intervention’s coming, it will come then…
MARKET OPENS, EUR/USD –1.2316
More bad headlines…
http://www.businessinsider.com/french-budget-minister-keeping-our-aaa-rating-will-be-a-stretch-2010-5
Good morning, does anyone have an early indication on EUR/USD ?
what is the opening on eur/jpy
1.2254 – EUR/USD IN OANDA
Thxs Long
EURUSD chart … I think it might be trying to tell us something?:- http://www.pict.com/view/3578072/0/eususdspotofbother
IT ASKS FOR “HELP”
do you see it tumbling down below the 1.2160 level
Ahh – eurusd’s pot of bother
Funny girl …
EUR/USD IS GOING TO RETEST EARLIER HIGH 1.2696 THIS WEEK. MARKET IS USED TO ALL BAD NEWS ABOUT EURO, HENCE WILL NOT REACT NEGATIVLEY THIS WEEK
Got a rumbly tumbly
http://www.youtube.com/watch?v=3t8MeE8Ik4Y
1.2258/71 first up
Interesting that we aren’t getting the usual inter-bank massive moves….EurJpy is exactly where it ended Friday
Hey LONG, You also stated last tuesday that fiber would crash down to 1.20. That did not happen. Why would you be right this time to 1.2696???
lou, way too early for a eurjpy price. usdjpy 90.95/91.02 eur 1.2269/71
Bear, I understand…it’s just that normally if it was going to fall thru, it would have shown some pre-market inclinations. It is actually up from Friday close which does not look too bearish at the moment
Maybe not so interesting story, since very many analysts expect EUR/USD parity or below within 18 months – so Greece will get the devaluation it needs as mentioned in the article. Until then the ECB can keep Greece on the drip-feed it requires – an extra year on demand deflation in Greece isn’t going to make a whole lot of difference. Spain will be looking forward to devaluation too it seems.
Now do we get another bout of US deflation panic/fannie mae housing crisis (part 2) re-emerging before then?
Maybe not so interesting story, since very many analysts expect EUR/USD parity or below within 18 months – so Greece will get the devaluation it needs as mentioned in the article.”
What devaluation if most of tourists transaction and trade is done with EURO from Euro countries?
we are almost there in the bottom of eur/usd downtrend. may be one more leg down to 1.17/8. so dont ever dream for parity