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Euro heading for freefall in echo of housing crash
Currency could be next sub-prime mortgage crisis say traders after day of turmoil on markets. The euro could go into freefall in the next few weeks as investors come to see it as comparable to a sub-prime mortgage bond, traders warned yesterday after a dramatic day on world stock markets. With European voters giving austerity a clear thumbs-down, currency experts predicted a grim future for the euro, even if some of the countries that use it manage their way though the present difficulty. Jason Conibear, director of the global foreign exchange specialist Cambridge Mercantile, said of the election results: "The ... (full story)
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