Tuesday, March 23, 2010

Don't bank on it

March 23 (Bloomberg) -- The dollar rose toward a three-week high against the euro amid speculation European Union leaders will fail to agree on an aid package for Greece at a summit this week, stoking demand for the U.S. currency as a refuge...--
full text
Comment: The noise about the bailout of Greece has been mainly directed at the rest of the PIGS to put their house in order and to avoid being put to shame the same way as it has happened with Greece. I'm pretty much sure that there will be a kind of bailout agreement for Greece and that the threats of letting Greece go bankrupt has been helpful to mobilize the political and popular will in the rest of Europe to bring public debt under control.

No comments:

Post a Comment