Friday we witnessed another rout in the Euro. At one time early this morning it was trading in the 1.11 handle. It closed at 1.1201. The latest polls indicate that the Syriza party will win the Greek election on Sunday and the party claims that they are not responsible for any commitments promised by the previous government.
If they leave the Euro, then this will create complete chaos for the ECB and various banks that have lent money to Greece togetherwith the total implosion of credit default swaps underwritten by the big USA banks (and Deutsche bank) on the health of Greece.
If they leave the Euro, then this will create complete chaos for the ECB and various banks that have lent money to Greece togetherwith the total implosion of credit default swaps underwritten by the big USA banks (and Deutsche bank) on the health of Greece.
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