FOREX - Trends, Forecasts and Implications (Episode 5: July 2011) - page 182
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The euro also rose against the yen after Italian bond spreads narrowed against the German.
Greek Finance Minister Evangelos Venizelos said that a resolution to end the crisis is "achievable" and ECB Council member Evold Navotny signaled that the ECU may be willing to compromise on using Greek bonds as collateral in case of default.
The Washington Post
With the turmoil in Italian markets, Europe's financial crisis has entered a new, more dangerous phase, posing a threat to European monetary integration and global economic recovery, says Obama administration adviser Lawrence Summers.
Analysts at Royal Bank of Scotland take an extremely pessimistic view of the future of the eurozone. In their view, the continuing rise in Spanish and Italian yields is leading to a significant increase in systemic risk in the region.
According to the specialists, it is unlikely that the authorities would be able to take any meaningful action in time to support Spain or Italy.
The bank notes that there is a threat of "clinical death" for the euro. Economists are advising investors not to invest in the debt of the peripheral countries of the currency bloc. Only investments in German debt are relatively safe, stressed the RBS.
Yesterday, Spanish and Greek bond yields hit record highs: 10-year government bond yields soared to 6.32% and 2-year Greek bonds climbed to 36%. Today, Greek 10-year yields are hovering around 18.3%, Irish 14.1%, Portuguese 12.7%, Italian 5.97% and Spanish 6.3%.
Diving into the BREAD )))))
MIXONN777 Throw something )))Just don't be bullshit (((
I think the EUR picture reminds me of an inverted double bottom. But I think that this bottom may become a double bottom in X hours.
The EUR is lying on its back and it is ready to give in to anybody who wants to repay its debts)))
All that is left is the head and shoulders ))))