Wednesday FX View: Risky Bets Flee After Bank of China Warning
January 20, 2010 by Seeking Alpha
Filed under Tips
Original Article from Seeking Alpha Dollar Currencies
Andrew Wilkinson submits:
The magnitude of the concerns surrounding the fiscal state of Greek financial affairs has today ripped deeper into the health of the euro. The problem is reminiscent of the wealthy tourist struggling with the hustle and bustle of a busy town center, only to be constantly hounded by a young beggar. No matter how the tourist tries to ignore the demands of the young urchin, he simply won’t go away. And although time is a great healer, the market appears to have grown suspicious that the solution from the government of Greece is nothing more than a string of poor and unworkable assumptions. The fear of onlookers from outside the Eurozone is that if Greece can do this, then others might also resort to bad assumptions to solve its nation’s books on paper and further weaken the credibility of a euro that has found itself languishing after the official submission of the Greek government.
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