Euro/Pound dive against the Yen

[NJ5]

Bamboleo said:

kowenicki said:
Dont worry, the Yen will have to be devalued soon, it has to unless Japan want to utterly screw themselves. They have to do something soon, Japans tax take this year wont even meat their own debt payments. They are effectively bankrupt too.

On Europe... expect Portugal, Spain and Italy to follow Greece soon.

It was sooooo obvious that a common monetary policy and common currency couldnt work for such different economies... especially economies propped up by inflows of european cash.

To follow Greece where?

 

Sorry I didn't get that, but I'm curious since Portugal is a worst country than Greece in terms of economy. I even think it is the worst country in Europe, we are about to be kicked soon (2012) if our debts continue to raise.

Greece has bigger problems that Portugal in terms of debt and deficit.

In any case, don't get blinded by the current media reporting... Portugal's debt and deficit are nothing out of the ordinary compared to other countries (as I said, deficits and debt are similar to many countries including Germany and the US, proportionally).

What's happening is that the bond market is pressuring countries one by one... Portugal is in the crosshairs now, which results in a lot of attention from the media. Soon it will be Spain and Italy, which will be a whole other ball game given that they would have a much bigger impact if they didn't pay their debt.