Wednesday, 13 July 2011

Macro musing - European debt crisis saga - Clear and present danger

Sometimes a picture is worth a thousand words:
Greece, Ireland and Portugal, clear and present danger in the Eurozone crisis, with some contagion already spreading to Italy and Spain.
And another picture, as well, quite interesting - Currency performers year to date.
Currencies top performers against the USD this year so far.

Swiss Franc = Flight to quality, safe haven status. Greek deposits fleeing Greek banks for Swiss havens.
Canada, Sweden, Norway = sound economies, safe risk.
Australia = big commodity currency like the Canadian dollar.
To be continued...

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