MIGHT IT BE WORTH THAT AGAIN - BY THE END OF THE WEEK?
THE EU'S FINANCE MINISTERS THINK THEY CAN STOP IT.
MORE HERE:
HMMM... MAYBE THEY CAN'T SAVE THE EURO...European leaders were forced today into radical action in an attempt to save the euro, agreeing for the first time to erect a safety net worth tens of billions for member states in distress. They also wrangled over a much more ambitious scheme to issue guarantees from eurozone governments to raise hundreds of billions on the markets.
With the prospects for the single currency drowning in a tidal wave of debt and default fears, and even the future of the European Union being questioned, EU finance ministers established a modest "stabilisation mechanism" for distressed member states, aimed at reassuring the markets opening tomorrow.The plan represented the most fundamental rewriting of the single currency regime since its inception 11 years ago, after months of hesitation over what to do about the debt crisis in Greece.
However, as the governments engaged in a high-risk gamble to shore up the currency, it was unclear whether the moves would be enough to see off market pressure on the eurozone's weaker links.
STAY TUNED...
BTW: UKIP'S LEADER - NIGEL FARAGE - FORESAW THIS IN 2009.
MONDAY UPDATE: A LEADING GERMAN ECONOMIST AGREES THAT THE EURO COULD HIT DOLLAR PARITY.
1 comment:
Hi.
I hope not i would loose on it.lol
No seriously i hope it stabilizes on monday if not it will drag the other markets down also.
There's a lot of US money involved in it also and it's bound to pull down American banks and this time there's no more bailout money.
The best thing and i've been saying this for years buy gold ,one day the Gold standard may be back.
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