Europe re-absorbed by the reincarnation of the debt crisis. Part of Europe wants to Ireland asked for help, but proud country says that it does not need it, at least not today. Austrians are threatening to do the next installment of the loan to Greece due to the fact that the latter does not comply with out its fiscal objectives and because the budget deficit in the last few years has been revised substantially higher rates. Germans in the siege in part because of the persistence Merkel on the fact that a new version of a mechanism to combat the crisis (in which the bondholders take on some of the risk of sovereign default) should become part of the new EU treaty. And yet, despite the negativity, the euro seems to refer to all this calmly. For example, in the last 24 hours the euro ahead of other major currencies except the dollar and the yen, which has always attracted buying interest, even if investors are experiencing a sharp risk aversion. Could it be that the Euro-investors relatively optimistic about the fact that all work and / or goes something like? Could it be that the single currency is already short base? Could it be that European attempts to consolidate their budgetary imbalances, which are much more successful and reliable than in the U.S. and Japan, will give a single currency some support in the hour of need? Regardless of the explanation, price action is very interesting.
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