Anti-euro sentiment in Italy is already very strong and about to get stronger.
Eurointellihence has come interesting comments today regarding Italy.
demonstrations and protests [in Spain] are very likely now to spread to Italy.
The country’s largest union, CGIL, said there would be a public-sector
strike in September to oppose the Italian government latest austerity
plan, Il Fatto Quotidiano reports.
On June 1, former Italian Prime Minister Silvio Berlusconi said "Italy should dump the euro unless the European Central Bank agreed to inject more cash into the economy". One day later Berlusconi said the idea Italy should dump euro was a "joke".
Report Shows Netherlands Would Benefit by Leaving Eurozone
Inquiring minds are reading a 73 page detailed report The Netherlands & The Euro that explains country by country why Italy, Greece, Portugal, and Spain are going to need lots more money, and the Netherlands and Germany will end up footing the bill.
Bloomberg reports European CEOs Move Cash to GermanyGrupo Gowex (GOW), a Spanish provider of Wi-Fi wireless services, is moving funds to Germany because it expects Spain to exit the euro. German machinery maker GEA Group AG is setting maximum amounts held at any one bank.
By Stock Whiz:The once-taboo topic of Greece's exit from the common currency is now being openly discussed. Two years of pushing cash into the country have barely kept it afloat and Greece's political instability has injected a new urgency into the situation. Greece, which is facing its fifth year of recession, will go to a second election June 17, after its vote May 6, left no single party with more than 20% support and negotiations to create a unity government failed.
DUBLIN — Three years after going cap in hand to international lenders, Ireland got the green light on Thursday to step out on its own as the first eurozone country to exit its bailout program.
The European Commission, European Central Bank and International Monetary Fund signed off on the last part of the 85-billion euro (US$114-billion) aid program, paving the way for Ireland – which has met all major targets – to complete it by the end of the year.
Today’s AM fix was USD 1,611.50, EUR 1,246.62 and GBP 1,059.99 per ounce. Yesterday’s AM fix was USD 1,608.75, EUR 1,246.42 and GBP 1,059.43 per ounce. Gold climbed $8.70 or 0.43% and closed yesterday at $1,614.40/oz. Silver reached $29.31 and finished +1.29%.
By Dean Popplewell: It was bound to happen. Euro equities have started the week in the cautious camp, especially after last Friday’s strong session, where the Dow ended the week punching through that psychological 14,000 level. It’s not unnatural to expect equities to take a breather after achieving such a milestone. However, it’s the euro news flow that everyone should be focusing on. It serves investors a timely reminder that political risks remain healthy and looming within the euro-periphery region.