Saxo Bank Releases New Video Commenting On Eurozone Crisis
Released on: November 11, 2011, 2:47 pm
Author: Saxo Bank
Saxo Bank has released a macro view video featuring Steen
Jakobsen, Chief Economist, analysing the situation for the Eurozone in
light of heads rolling in the hot political seats of troubled nations,
namely Greece and Italy. It goes without saying that despite the
impending appointment of new heads of state the burdens in these
nations are so heavy now that they can hardly be shrugged off.
Clean-up in both countries is a major task. While Greece is in the bailout phase and
is undergoing a leadership change, the main focus is on Italy now which still has a
chance to save itself. And it must as there is hardly a hand large enough to help
the Eurozone's third-largest economy. With the situation worsening by the hour
though and the markets having clearly demonstrated a looming doomsday, with
perilously high bond yield spreads, prompt action must be taken.
The problem in Italy is one of liquidity not solvency, unlike Greece, though it
seems the difference hardly matters now in the eyes of investors. It is interesting
to note that it only took Portugal, Greece and Ireland 14 days to ask the
International Monetary Fund for help after their 10-year bond yield spread to German
bunds passed 6.5 per cent, said Steen. Italy's has been above 7 per cent for a few
days now. So the pressure is definitely on Italy's politicians in charge - whoever
they might be - to activate reforms, move through austerity and create a credible
plan. Until then the EURUSD is expected to remain under considerable pressure.
The full video, as well as other forex videos, can be found at
About Saxo Bank:
Saxo Bank is a leading online trading and investment specialist, assisting clients
in forex trading, CFDs, Stocks, Futures, Options and other derivatives. The three specialised and fully
integrated trading platforms; the browser-based SaxoWebTrader, the downloadable
SaxoTrader and the SaxoMobileTrader application are available in over 20 languages.
Saxo Asset Management accommodates high-net worth private clients and institutional
investors. In 2011 Saxo Bank continued the diversification of its business and
launched Saxo Privatbank. The Saxo Bank Group is headquartered in Copenhagen with
offices throughout Europe, Asia, Middle East and Australia.
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