By John Baeyens | Share This
I wrote last weekend on the currency crisis and its impact which is seriously underestimated. Today again the currency pegs are being tested; it recalls the collapse of the Exchange Rate Mechanism in 1992.
This is the biggest currency crisis the world has ever seen. Expect this to trigger a chain reaction within the eurozone itself. Expect a capital flight from Austria and from Mediteranian countries that rely on foreign funding to cover huge current account deficits.
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