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Originally Posted by Beingist  |
I think they're overstating their case more than a little - the NBC properties are known to do that. The WSJ story is a bit more reasonable. I think this does show that the PIIGS issues, Italy in particular, can be contagious to Germany and France. Which isn't exactly news - the shear size of Italy, as the third largest economy in Europe, was an indicator all along. That said, a 1% slide in the EUR/USD and 20 basis point slide in Bunds does not completely re-arrange the financial world as the article seems to imply.
Ultimately I believe the Euro fails, either disappearing entirely or becoming in effect the FrancMark. But I don't think this auction is the reason why.