International News
The rhetoric inside the Greek Euro brinkmanship is at tipping point. Both sides have issued ultimatums, each insisting angrily on fixed positions and lashing out at each other with thinly veiled animosity. The finance minister Varoufakis said “clever people… knew back in May 2010 that Greece would never pay back-its debts. However they acted as if Greece wasn’t going bankrupt”. Furthermore Manolis Glezos, a Syriza MEP said “If they decide to kick us out, the damage will be greater for them.”
In a continuation of the long-term trend, EUR/USD contracted a further 1.25% from the morning open of 1.0837. Full-blown quantitative easing measures in the Eurozone appear to have not been fully priced in and the currency, equity and bond markets have all taken proportionate hits. The last time the pair was at these levels 12 years ago, which was the same year it was at the much speculated parity [...]
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