The Euro has plummeted dropping to 12900 zone. Our Daily Bearish on the spot lies at 12940. Portugal interest rates have jumped to 8% and will move higher.Austria has closed 25% of all the branches of their bank in crisis, and we are waiting for the first crack in German banks. The EU Commission is waiting for the German Elections and will thereafter begin to look at issuing Euro-Bills to cover debts for the Union. But this is likely to be too little too late. Portugal is at great risk of just being forced into outright default and may be unable to wait for the German elections.

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