Grant I took a look at that link. To be honest were going round in circles with this euro crap now. Instead of a politician saying this and that what it needs is for a major figure to openly say this euro is doomed. As soon as that happens other leaders will jump on the bandwagon. To me this is always going to be te same now until seine leaves the euro or defaults on there debt. I've been back and forth to Spain since 1997 my family moved here then and we moved torre well by the punts prima strip and it was empty it was nice and quiet. Then the influx of immigrants started coming. We can't blame the governments 100% xbecause they spend money on towns depending on numbers and needs and at one point towns were over flowing now people have left the towns are falling apart places closing that's not down to the goverment they spent theonry building places up when it was in demand now everyone's going we all expect the goverment I get us out of trouble. We all need to take a look at our actions first.

Key t hing to read from this is..."The Spanish government's cost of borrowing money on the financial markets for 10 years - a popular barometer of lender fear - peaked at a rate of 6.7% before falling back on the rumours"

This level of bond % triggers alot of negativity for investors.

Watch out for the news on Greece this week...

I had an e-mail from my currency dealer a couple of hours ago,to say it is believed that a deal to sort out the Greece problem is close to agreement,and should be sorted out in a day or two.Noticed the Euro has gained a bit on pound sterling in the last 24 hours so I gather other people believe it too.I have become a pessimist and believe the worst is far from over.just hope things look brighter one way or the other shortly

Alan, it is good that you have a proactive currency dealer like that. The deal for Greece is actually agreed in principle, to say as much means they will force the private investors to take a hit on their debt holding IF they dont agree to one!

I may have become a pessimist too, or are we just realists?

The Waiting Is The Hardest Part... Mr. Market fills in the blanks when news is not forthcoming. The longer we have to wait, the more that can go wrong seems to be the trend now. At the end of the day, Greece will get its money and avoid default...For now. But before long we will be waiting with baited breath for the quarterly reports from the Troika before the next trance is released, and the next, and the next. This process is nowhere near conclusion, even if the debt swap and the second bailout are agreed today.

Personally as sterling has dropped across the board today I dont feel this is euro related. This drop, I feel, is due to the MPC meeting tomorrow - looks like markets are pricing in more QE...USD- 1.5820 EUR - 1.1926 right now...

More QE announced by the UK today...I like this analogy thought id share it with you guys...

It is the month of August on the shores of the Black Sea. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit.

Suddenly, a rich tourist comes to town:

* He enters the only hotel, lays a £50 note on the reception counter, and goes to inspect the rooms upstairs in order to pick one
* The hotel proprietor takes the £50 note and runs to pay his debt to the butcher.
* The Butcher takes the £50 note , and runs to pay his debt to the pig grower.
* The pig grower takes the £50 note , and runs to pay his debt to the supplier of his feed and fuel.
* The supplier of feed and fuel takes the £50 note and runs to pay his debt to the hotel proprietor to pay for the rooms that he rented.
* The hotel proprietor then lays the £50 note back on the counter so that the rich tourist will not suspect anything.
* The rich tourist comes down after inspecting the rooms, and takes his £50 note , after saying that he did not like any of the rooms, and leaves town.

No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism.

And that, ladies and gentlemen, is QE at its very best...sounds good doesnt it? If only...