The importance of this week should not be underestimated and there is very little chance of the Euro surviving in its current form if Germany fails to blink. ECB President Draghi has laid down the gauntlet, putting intense pressure on the German government and Bundesbank to allow much more decisive support measures to keep the Euro together. If Germany fails to bend, the Euro area will fracture terminally on a torrent of capital outflows. If the ECB does take further action and Germany shows some flexibility, which is the more likely outcome, there will be relief surrounding risk appetite, but there is still very ... (full story)