The currency has slipped below the psychologically significant +EUR1.30 handle outright, as confusion about Greece’s bailout package details are shaking the already fragile investors raw nerves. Rating agencies cannot be omitted from the ongoing saga equation. Moody’s putting 114 Euro financial institutions on notice for potential downgrade is adding to the anti-EUR tone. Greek offering of further cuts and savings in its budget and letters of commitment from two of the three main parties is not reassuring anyone. In fact, the Hellenic plea for more aid has stirred recrimination on both sides of the euro economic divide.
Being Long Euros is Lonely
The currency has slipped below the psychologically significant +EUR1.30 handle outright, as confusion about Greece’s bailout package details are shaking the already fragile investors raw nerves. Rating agencies cannot be omitted from the ongoing saga equation. Moody’s putting 114 Euro financial institutions on notice for potential downgrade is adding to the anti-EUR tone. Greek offering of further cuts and savings in its budget and letters of commitment from two of the three main parties is not reassuring anyone. In fact, the Hellenic plea for more aid has stirred recrimination on both sides of the euro economic divide.
