How's does a currency price in the fact that it may not exist soon ! It's a catch22, if it priced in it's non existance, then that would be enough to make it non existant.
If the the euro is on the verge of falling apart, why has it not plummeted in value?
Bailouts on the periphery, soaring borrowing costs in the core, toppling governments, schisms over strategy among leading states and the total break-up of the euro emerging as a real possibility. Most people would agree that it has not been an annus mirabilis for the eurozone. In the latest cut of the thousand that could do for the single currency, Italy and Germany both suffered disastrous bond auctions this week, with the former seeing borrowing costs leap back into the danger zone today. You might expect currency traders and governments over the last few months to have been selling the euro like it had gone very ... (full story)