Thursday, 8 July 2010

Euro trouble?

Read this piece in the Torygraph financial pages by Ambrose Evans-Pritchard. Then I read this article. Now if what both articles say is true, then the IMF are telling the European Central Bank to buy as much Grease Greek bonds as possible, in order to do something which is, according to Mr Evans-Pritchard, specifically forbidden under the European Constitution Lisbon Treaty. Apparently there are no less than four legal challenges in the German constitutional courts upon this very issue. Oh dear.

Oo-er. All I have to say is this for those stuck with the final round of 'Club Med' bonds and Euro's.

Regrettably Allied Dunbar, last I heard absorbed by Zurich, are no longer around to help. Not that they could assist with the possible massive fallout from a collapse of the Euro. Swiss Francs? Pounds? Kroner? Anyone?

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