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Tuesday, May 25, 2010

Euro Heads For Parity

The Euro is heading for parity with the Dollar, as markets become increasingly unnerved by:

1 The likelihood of Greece ever repaying its debt

2 The severe austerity packages being introduced in Europe (Italy has just announced a 3 years Euro24BN austerity plan), and

3 The rolling takeover by the Bank of Spain of certain small banks.

Markets, once they build up sufficient momentum, are difficult to stop. The Euro's days may be numbered.

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