Saturday, October 22, 2011

PIGS to be relegated to Euro B

Coins © fintag

News comments:
The Euro has failed because the participating countries ignored the fiscal rules.

So we are hearing, as fintag predicted, the Euro is to be split into a Euro A and a Euro B.

Euro A countries will be restricted in their abilities to tax and spend and if targets are breached they will be relegated to Euro B status.

Euro B countries will be given 3 years to "get their acts together". If they do, they become Euro A again. If they fail, they will have to leave the Euro.

Seems reasonable. Seems inevitable.

Today's shorts:
Tesco tells Euro to fcuk off (telegraph)

Today's longs:
Google to pay mercenaries to take out Yahoo (bloomberg)

Fintag to win the £250,000 prize for sorting out the Euro problem.