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The euro may yet fall

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The last minute bail out by Germany of Greece has saved the euro for the moment.

Standard & Poors comments about the state of the French and Italian economies should not surprise us; no-one quite knows what their debts are as their accountancy practices are hardly transparent especially in Government.

Greece, Portugal, Ireland and maybe Spain but an Italy or a France and the euro is dead; how then does it keep its value? Who is buying or hedging?


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