I've shortened Euro today, chancellor Angela Merkel
Euro was falling consistently till yesterday when it saw gain. But today I've shortened Euro again. And won my trade. Market works both ways – either you buy or sell.
But Europe is a sinking ship now with Greece in the front. And Germany's chancellor Angela Merkel have banned naked short-selling. And I don't think she really knows how all that will impact the traders and sinking Europe's countries including the rest of the world.
The multimillion bailout plan was thought to be a solution for all the problems Europe is facing now. And everyone been eagerly waiting for it to be approved. And, happily, it saw the daylight. But Euro went down despite this. And the reason was that nobody knew where the money will come from. And it's a huge amount if to be exact.
The other day gossips about France planing to leave the Eurozone dragged the currency even lower. Then same talks went on about Germany. But so far both countries still holds Euro.
There are a lot of talks going on about the current situation in Europe but the rest of the World isn't far either.
But Europe is unique in many different ways. One of them is a so cold European Union. It's an advantage to be a member but also a huge commitment.
Everything seemed to be fine in the old continent till economical crisis began. It has affected everyone around the globe including UAE but we, Europeans, are still in a sinking ship.
America show signs of pulling out of the crisis. Well, today's jobless claims been a bit of disappointment but America's economy is improving.
Not like some of the European countries. Latvia, one of the new member countries been affected really badly. But it haven't pulled half of Europe down. And you know why – people living there has some dignity. A so called thing when you want to do everything on your own. The other thing – Latvia's economy has a small impact on the continent.
Unlikely Greece. It's a massive country and one of the biggest members within EU. And one of the most important.
But while some have found a way to get out of all this dip, Greeks been going one way only. And that was down.
Now they are facing massive budget deficit. And they need help. A lot of it.
Not long ago Greeks been suggested, sort of, to get out of all this on their own. And that seemed like a rather good idea. But the problems in the country are already too big.
Being a EU member can give you a huge advantage. And Greeks, sort of, asked for help.
They are too proud, like some other countries, to ask for any sort of help.
Government mistakes drags all country down. And we give our so precious time to go to pulling stations and elect some people to the parliament or other high constitution. And the result we get is usually worse than the government's that was before.
So why do we waste out time just to help and drag our country down?
All this doesn't make any sense, does it.
But while there's massive problems on the far East of continent, West ain't doing any better. Spain and Portugal are two other countries with problems. Happily – not as big as Greece. In the middle of all this Italy stands on. But the three countries been doing on their own so far.
But what if they also ask for help? There's no such money to be given to all.
But there are things to be done within the country.
Today, while watching Bloomberg, heard Spain and Portugal increasing their VAT as one of the solutions to the debt crisis.
After Greeks done some cuts and additions to their economy Greeks went on strike. And all protestants have achieved was three dead bank workers.
It doesn't work, does it.
But Euro is single currency of the continent. And despite Germany and France doing rather well, Euro is still falling. And you know why – losses within the continent are much bigger than gains.
Chief economists and bigger traders are shortening Euro because of the instability within the continent. It seemed that the currency have found its bottom line and started to strike back up again but it was small gain. Today, after a climb it's falling again. Not as much as last week but single loss for main currency brings it closer to parity.
But, while day or too ago, Goldman Sacks chief economist mentioned about 'going long' with Euro it is still much safer to keep away from trading the currency.
There are more bears than bulls in the market and there's much more to loose for the currency. But where's the bottom? 1.15 was talked to be the bottom line after it vanished the 1.22 barrier. But now talks turn to rather bigger losses. 1.10 comes out as a stop but it doesn't seem that there's any limits for the Euro to go even down.
It it for sure that the eagerly awaited bailout plan hasn't worked out.
But, so far, Germany's chancellor Angela Merkel seems to be the only one interested in trying to drag the continent out of the dip. But she needs help. Economist help. A short-selling ban may be a big mistake but something, even such mistakes may take everyone to a relief that there's a solution.
Like in making a perfect cake you need the finest ingredients, making politics should come with the same attitude – you will mess up, you'll still have to eat it!