i went long, but got stopout due to home sales report last night.. hehehe.. $10.00! sahod sa isang linggo.. ahahaha! yan un barya ni master yeahbah.. joke!
not only spain, because there are a lot of european countries that is scrambling to get fundings right now before the costs of borrowing shoots up when they announce their budget deficeits. so parang, naabsorb ni germany and france ung pera ng mga co-EU.
so actually, the eu is being threaten to break up unless they fix their policies. but as long as they kept on lending money to solve the problem, the problem would always be there, because the root of all the problems that EU is having right now is of regulatory and policy making.
but then, US won't agree to have eu go cheaper than them, because, their exports would not be competitive anymore, and the plan to get out of the depression is thru expansion would no longer be a valid option, and that will/might create a deflationary scenario in the long term.
that sure spells disaster for USD and EUR.. so buy PHP instead!
there are also rumours that EU is getting sold in exchange for CAD and AUD..