FOREX - Trends, Forecasts and Implications (Episode 5: July 2011) - page 182

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The euro strengthened against the dollar and Swiss franc on speculation that European officials are close to an agreement on a renewal of measures that aim to limit the spread of the debt crisis in the region.
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

How Europe can restore financial stability

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.

La Repubblica
America and Italy, risk of Armageddon. "August panic on stock exchanges".
"Armageddon" is the economic and financial apocalypse President Barack Obama fears will come unless the American political class comes to its senses in the coming days and votes to raise the national debt limit.
Deutsche Welle
German analyst: Germany profited 20 billion euros from eurozone crisis
No other country has benefited from the euro zone debt crisis as much as Germany, analyst Volker Helmeyer told the newspaper Weser Kurier. During this time, Germany has been able to save 20 billion euros.
 
ECB President Trichet: "Completely confident that Italy can boost confidence"
  • no country will leave the eurozone in the next 10 years;
  • A default on US debt would be a major global problem;
  • US will find a solution to the debt ceiling.
 

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%.

 
margaret:

Marguerite, you are, as always, the most knowledgeable person on the forum.
 

Diving into the BREAD )))))

 

MIXONN777 Throw something )))Just don't be bullshit (((

 
and the EUR picture reminds me of an inverted double bottom right now. Only I think that this bottom might become a regular double bottom in X hours.
 
trinitron:
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 ))))

 
Margaret, what are the official arguments against raising the debt ceiling or abolishing it altogether? You don't even have to turn on the machine now -- just punch in a few trillions on your computer and that's it, because their Tredgeries are denominated in U.S. currency...
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