2010-09-10

Euro and euro shorts flat

Some developments this week were:
Ireland's Banking Crisis: Ode On A Grecian Turn
Greece Hidden Debt, Goldman, Anglo Irish: Compliance
EU Probes Hidden Greek Deals as 400% Yield Gap Shows Doubt
Trichet calls for tougher euro rules (Quantum Leap)
Eurozone members that break the region's rules on public finances should be excluded temporarily from Europe’s political decision-making, the president of the European Central Bank has proposed.

The controversial suggestion by Jean-Claude Trichet, in an interview with the Financial Times, would be part of a “quantum leap” in the governance of Europe’s 11-year old monetary union, needed to prevent a future Greece-style economic crisis.
I doubt the euro shorts will be holding steady for much longer.

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