The Euro has plummeted dropping to 12900 zone. Our Daily Bearish on the spot lies at 12940. Portugal interest rates have jumped to 8% and will move higher. Austria has closed 25% of all the branches of their bank in crisis, and we are waiting for the first crack in German banks. The EU Commission […]

The European Troika has now provided Greece with a new ultimatum. Greece must show by the end of the week that it can adhere to the agreed terms of the bailout. Both the layoffs in the public sector than in the privatization process has seriously lagged behind the agenda in Greece and to receive the next […]

The Euro closed on Friday still in a short-term bullish posture on a weekly basis as we head into the week of 06/17, which is the next turning point. The primary resistance stands at the 13432 level on the cash. It will now take a weekly closing back below 13147 to signal a retest of […]

Today fulfilled a possible high being up 17.2 days. The Euro on cash reached about 13358. The major resistance stands at 13485, The Euro volatility should now start to rise again. We need to see today’s high exceeded both intraday and on a closing basis to suggest further upside gains. Critical weekly closing support lies […]

Investment inside Europe has been shifting in very interesting ways. The pension funds have shifted their sovereign debt holdings to predominantly Germany, which now makes up about 71% of government debt holdings. We are also seeing a shift to private assets and as we illustrated at the Berlin conference, private assets in Greece looked like […]

The Euro has TWO Daily Bearish Reversals for the close today in New York – 13030 and 13000. A closing beneath these levels should spark a retest of support. Friday is a key day for this week as it is showing up in other markets as well. We need a close ABOVE 13081 on the […]

Given the critical developments in Europe, and the likelihood that the new policy to let depositors fund bailouts, it is important that you should listen to the words of Margaret Thatcher at our 1996 Conference. Thatcher on Europe a Economic Union not Political

What part of Marxism do these politicians fail to understand? The problem seems to stem from the fact that most are lawyers. They know how to write laws and contracts, but most are totally ignorant of the real world.One of the most disrespectful lawyers ignorant of the real world was Samuel Untermyer, who was the Attorney for […]

The primary conflict that Thatcher had was the pro-European movement. The overwhelming majority of her own government wanted to go into the Euro. She stood her ground and because of her, she saved Britain from the Euro. “We have not successfully rolled back the frontiers of the state in Britain, only to see them re-imposed […]

Cyprus joined the EU when the bloc launched its “big bang” expansion, opening the door to 10 mostly ex communist countries in 2004, which then swapped their individual currencies for euros a few years later. However, unlike Greece or the rest of Southern Europe, the banks in Cyprus suffered heavy losses due to large Greek bond […]