Given the euro’s damaged reputation, I expect pledges from European governments to rein in budget deficits and from the ECB to defend the value of its currency. While the long-term implementation of such commitments may prove lacking, a short-term rally in the euro should ensue – especially given the rapidity of its recent descent, and the overwhelming bearish sentiment against it.
in europac.net
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
