June 22nd, 2012
Prime Report: Tips for July 2012
Prime Report: Tips for July 2012 Prepared by Richard Curr – Head of Dealing
After over 2 years of intense activity, deadlines, summits and bailouts, most are fervently hoping that the Eurozone crisis is finally coming to a head in the wake of the second Greek election on June 17th and the Spanish banking system bailout. There is of course much at stake, with most split between those who believe that the implications of a Euro break up would be too horrific to contemplate, and those who suggest that the best thing would be for the weaker PIIGS nations (effectively all of them), to bite the bullet and return to their native currencies. What is unclear at this stage is whether the reason for the impasse in Greece is a protest vote against austerity, or an anti–Euro one. Certainly, with as much as EUR900m being withdrawn from Greek banks per day going into the June vote, ‘Eurogeddon’ fears are running high. As ever the markets are screaming out for clarity and direction going forward.
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