ECB talks up Europe and the Euro exchange rate again – don’t worry about the fundamentals of high youth unemployment, falling house prices in southern Europe especially the Spanish Property Market – these things don’t matter.
The ECB predict that inflation will soar to 1.1% and that growth will be 1.2% – which is piss weak but again all that has happened on the currency markets is that forex traders have been buying Euros as it is better to be a sheep and keep your job and fat cat bonus instead of punishing a third world currency like the Euro.
argh – always thought the ECB was a three ring circus and made up of smoke and mirrors.
I’m off to the pub!