Monday, September 29, 2008

Beginning of the end of the euro?

Expanding currency swap program between the Fed and European Central Bank (to satisfy member countries' dollar demand) could end the reign of the euro. Borrow in a currency that you do not issue and it could bring down your own. The lesson of all "currency using" nations. (As opposed to currency issuers, like U.S., Japan, Britain, Switzerland, etc.)

Economic pressures in individual nations like Spain, Portugal, Italy, etc. could reach the breaking point.

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