CASH1 might be on to something. The following is a quote from
Fx Street
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"Any euro recovery is unlikely to be that long-lived and there is still some downside," said Mackinnon
Some commentators are even predicting the currency's eventual collapse in the future following France's rejection of the EU constitution and tonight's expected "no" in the Netherlands
Charles Stanley analyst Stuart Thomson reckons the euro's demise is "inevitable" by 2020 and added that there is a greater than even chance that at least one country will break away from the currency zone by 2008
The prospect of a withdrawal was raised earlier in a report in Stern magazine, that suggested that German officials have discussed the possible collapse of the single currency. Though a spokesman for German finance minister Hans Eichel sought to downplay the report, the suggestion fitted in with the underlying gloom surrounding the euro. Most observers think the euro will on balance survive but faces significant hurdles in the months ahead if confidence is to be restored. Nevertheless, the possibility of a break-up of economic and monetary union cannot be ignored
"While the overall probability may still be small, the tremendous implications such a development would have on capital markets imply that investors can no long ignore it," said WestLB analyst Michael Klawitter
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Just food for thought