With stubborn socialist goverments in the EU such as Spain, Portugal and Greece. The market is now jittery over Spain, with Spanish goverment officials saying that they have 'no crisis', which is of course bullshit. Their 1.6 Trillion economy has a shrinking GDP and large deficits; a bailout nightmare for the EU
refer to graph of the EUR: support lower at 1.23, if the EUR collapses through that support the EU will face a currency crisis and the USD will spike sending the USD carry trade into hysteria, meaning short covering and a possible collapse of USD leveraged nominated assets (namley in Asia)
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