May 13, 2010
Bailout Failure Drives Euro to New Low
The EUR USD fell to a new low for the year, in effect wiping out the $1 trillion bet placed by the European Union over the week-end. Now that the short-term fix has been
eliminated by the market action, the downtrend can resume its normal course. It looks at this point like the EU and IMF are out of bullets so buckle your seatbelt. The European Central Bank may try
to get creative by slashing …
