Monday, May 17, 2010

Spelling it out

Uwe Parpart, chief Asia strategist at Cantor Fitzgerald, warned that on its present trajectory the euro will "lurch toward parity with the US dollar and through it before year-end, then disintegrate." He adds: "EU politicos are unwilling and unable to face the urgent need for across-the-board fiscal consolidation. The market sees that and reacts."