Friday, May 21, 2010

Pray for peace

The Euro just became valueless in todays market.

FTSE Plunges To New Low Over Euro Fears - Yahoo! News UK
"The market is becoming increasingly sensitive to signs that slower growth in Europe is spreading outside its borders," said Jane Foley, research director at Forex.com.

European finance ministers are meeting this afternoon in Brussels to try to boost faith in the euro.


Whatever Germany does, the euro as we know it is dead - Telegraph
Mrs Merkel is right: "The euro is in danger… if the euro fails, then Europe fails." What she has not yet admitted publicly is that the main cause of the single currency's peril appears beyond her control and therefore her impetuous response to its crisis of confidence is doomed to fail.

Remember your European history.

And Remember basic economics: No money, no food.