It appears that the ECB is set to hold an emergency meeting on the sovereign debt crisis that threatens to tear apart the EU. According to the Australian Broadcasting Company (ABC), ECB chief Jean-Claude Trichet is leaving a Sydney summit of Central Bankers early in order to fly back to Europe for the emergency talks. He had been scheduled to stay in Sydney until Wednesday.
Earlier it was revealed that investors had placed the biggest ever short bet in the history of the euro.
This is why.
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See Also:
- PIMCO’s El-Erian: Even With Euroland In Disarray, We’d Still Rather Own German Debt Than US Debt
- The Euro Experiment Failed: Europe Is Less Unified Than Ever
- Investors Place The Biggest Short Bet In The History Of The Euro