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EUR 100 billion bailout could be the straw the breaks the camels back for the €

EUR 100 billion bailout could be the straw that breaks the camels back for the euro

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Home > Finance > Foreign Exchange > 100 billion bailout was € € the straw the breaks the camels back for the

EUR 100 billion bailout could be the straw that breaks the camels back for the euro

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Posted: 11 January 2011 | Comments: 0
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The euro lost more ground yesterday against both the dollar and the pound on fresh concerns about € debt. Rumors of a € 100 billion rescue package allegedly of German and Portuguese officials were rejected, but we all remember similair denials from the Greek and Irish officials …

Tomorrow sees a € 20 billion bond auction for Portugal, which I believe will continue to be an important indicator for the Euro prospects in the coming weeks. The picture is not rosy, and I get a feeling of deja vu from the previous € bailouts. If you are an investor, you would invest in Portugal? Unemployment has gradually and is now about 11%. The country still has problems with corruption.Transparency International reported in 2010, Portugal 31st Place worldwide, compared to the rest of the world. I personally feel for each country in such an advanced economic union, is still to be problems with corruption a shame. In advanced civilized Western democracies, we should see countries exhibit features advanced civilized Western democracies. It is not good billion euros will go to European central government to the European nation-states to improve if corruption and other social viruses are rife on the lower levels.

appears, despite the writing on the wall for more miserable hours in the Iberian peninsula, there is no way that the bigger brothers is in the euro zone there are a pimple to a boil, without a heavy application of the ointment. The scene is set for some turbulence in 2011 .. Enter Portugal ..

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Jonathan Watson –
About the author:

Senior Executive currencies.co.uk dealers in foreign currency direct PLC. Please do not hesitate to contact me personally jmw@currencies.co.uk or 0800 328 5884, € discuss not only affect the "but other currencies.

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