Friday, November 25, 2011

Eurogeddon or Wishful Thinking ?

Telegraph :

"Suddenly, no-one wants to hold euro denominated assets of any variety, and that includes what had previously been thought the eurozone safe haven of German bunds... All of a sudden, the pound is the European default asset of choice. "

Ah yes. That must be why the Euro's collapsing against sterling. Not.


James G. said...

I think it could be because da Boyz are playing with Euro rate relative to the Pound. They've been doing the same with gold and silver for quite some time. I'm no expert, but I believe it has something to do with making the dollar look better than it actually is.

dearieme said...

How easily "not" becomes "not yet".

Laban said...

I think sterling's more collapsible myself. It's halved against the yen since 2008.

Anonymous said...

But it was previously massively over valued.