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The Euro collapse is not dissimilar to the USD fall in 1986.
This is relentless. This is a very dangerous market to be taking long EUR/USD or EUR/anything.
OK a few points to be gained on a small bounce from just below 1.33. Where to? Maybe 1.3350, maybe a bit more.
Big picture...the trend is DOWN.
Us Debt to GDP is massive at 100% or thereabouts, but several of the EUR currency countries have much higher.
The EUR rules are amongst other things:
Deficit/GDP less than 3%
Government deby/GDP less than 60%.
Most of the original 12 countries do not comply with either one of the above let alone the newer ones making up the 20 countries.
I suspect the new potential entries will reconsider (Latvia blah blah )
Try Googling ECB qiarterly reports, plus add on extras for places like Greece with its unfunded pension schemes.
Massive debts way outside EUR Mastrich boundaries.
