The Obama administration will pressure European governments not to let Greece fall out of the eurozone before November's Presidential elections, British Government sources have suggested.
Throughout the course of the euro zone crisis, a number of events have been hailed as the right key to unlock a solution to the single currency region’s woes.
You know the euro is in deep water when a doyen of the banking industry, Lord Jacob Rothschild takes a £130 million ($200 million) bet against it.
Germany’s director at the European Central Bank has thrown his weight behind mass purchases of Spanish and Italian debt to prevent the disintegration of the euro, marking a crucial turning point in the eurozone debt crisis.
Anyone who spends their time analyzing the euro debt crisis will know that there is one question you get asked again and again. When will the single currency finally collapse?
Oh, sure, don't get me wrong, there may still be a Euro a year from now. And there’ll certainly be some investors left.
“There’s no arrangement for any countries leaving the euro, which in current circumstances is probably inevitable,” Soros, 80, said at a panel discussion in Vienna yesterday on whether liberal democracy is at risk in Europe. “We are on the verge of an economic collapse which starts, let’s say, in Greece, but it could easily spread. The financial system remains extremely vulnerable.”
I've hardly been alone, but that's no excuse. For more than a year now, I've been regularly predicting the euro crisis's final denouement, yet still it hasn't arrived.
[[wysiwyg_imageupload:2389:]]By John Mauldin
I am attending the Global Interdependence Center's latest conference here in Philadelphia, writing you from the Admiral's Club on my way to Boston. The chatter last night at dinner and between sessions was focused on the risks in Europe. I did an interview with Aaron Task on Yahoo's Daily Ticker, where I noted that European leaders are starting to use the word contained when they talk about Greece. Shades of Bernanke and subprime. This too will not be contained.
[[wysiwyg_imageupload:2371:]]By Jeb Handwerger
The euro (FXE) slid compared to the U.S. dollar (UUP) after meeting and reversing at its long term down-trend resistance line two weeks ago. About four weeks prior to that, I alerted readers that the Euro could reverse lower supporting precious metal prices. In my March 28th article I wrote, "Watch for a move out of the euro to support precious metals prices as the euro reaches its descending upper resistance level. For the past two years the euro and the dollar have done this inverted dance wherein one goes up and the other goes down. But one thing I am not fooled about is the fact that they are both in secular long-term downtrends."