http://www.interactivebrokers.com/en/p.php?f=daily_analysis&p=fxview en-us Copyright 2011, Interactive Brokers LLC Mon, 12 Sep 2011 09:15:00 EDT 15 http://www.interactivebrokers.com http://www.interactivebrokers.com/images/common/iblogo.gif http://www.interactivebrokers.com/en/p.php?f=daily_analysis&p=fxview It’s not hard for vacationing tourists to become irritated by German holiday-goers who neatly lay out their pool towels seemingly before the sun is up. And with stories emanating that Germany is rolling out a Plan B in order to shore up its bankers in the event that Greece fails to qualify for its next bailout payment, it appears that Chancellor Merkel has already unrolled the nation’s beach towels in an effort to deal with more collateral damage, which some claim will signal the break-up of the euro area in its current form. The euro has now shed 10 cents against the dollar in the space of two weeks with the second half of that decline taking just three trading sessions. While we have had our senses dulled during the last two years over the perilous health in Athens on account of European leaders pulling in the same direction, this time it looks like the head has been cut from the rose. German officials assessing the Greek books as fiscal austerity bites in to the corpse of a necrotic economy find little progress to report. The flagging Greek economy means that the nation faces the real possibility of failing to jump the hurdle this time around.

More...]]> Mon, 12 Sep 2011 09:15:00 EDT Andrew Wilkinson http://www.interactivebrokers.com/en/p.php?f=daily_analysis&p=fxview#1315833308