European crisis started a few years ago. Restrictive policies, high wages, lack of entrepreneurial innovation, the strengthening of the Euro, all worked in fusion to keep Europe away from competitiveness. There has to be creative destruction in Europe if it has to outlive the competition of Asia.
Asset markets are in turmoil.
People sell euro to buy yen just as a safe option; but in reality Japan is still a worried nation. China does not as yet inspire confidence.
So this week end there might be some contrarians who try to buy ; but the swarm of sellers is still buzzing. Fly in to gold, dollar, yen, Australian dollar possibly, NZ Dollar they seem safer till the wind passes by.
Asset markets are in turmoil.
People sell euro to buy yen just as a safe option; but in reality Japan is still a worried nation. China does not as yet inspire confidence.
So this week end there might be some contrarians who try to buy ; but the swarm of sellers is still buzzing. Fly in to gold, dollar, yen, Australian dollar possibly, NZ Dollar they seem safer till the wind passes by.
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