The euro fell even farther today. Its sitting at $1.24 and todays stock market slaughter might drive down the markets tomorrow if a sell off brews. Down 347 points!
You might just see that at some point. Maybe not soon but with the European financial debt that continues to mount, countires are going to go back to their national denominations to control or cap inflation. I was watching the CNBC late night British affilaite last nite and their position was that Greece will be the first to get off the Euro this year and back on their old monetary system. Spain and Italy, not to mention others like France, are likely to follow. The talk in the financial world is the Euro may be doomed with each country dropping out of the EU as their debt continues to expand.
This is getting interesting. i am also watching this to see where it will go. Maybe Germany will just buy Europe the third time around..... I hope this is sarcasm but they do seem to be doing well.
Get those German hulls before they go off the Euro and our own dollar starts slipping more.
The european countries of concern are known as the PIGS (Portugal, Ireland, Greece and Spain). They have huge budget deficits, spent more than they earn.....
They are scaring the @#$#@% out of the world markets...... The US economy is recovering but there are fear that Europe might hamper the recovery.......
So many bad news...... Would love to buy more boats but all those economic events just make me think twice and probably defer any purchases I want to make......
Fingers crossed a solution is found for Europe..... We are all somehow affected by world events......
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