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EURo opens lower after German election

German election concluded largely as expected. Angela Merkel will serve her fourth terms as Chancellor, however, her party (CDU) will have to seek coalition partners. In addition, a far-right party (AfD) will be represented in parliament for the first time since WW2.
EUR/USD didn't like it and opened with about 50-pip gap lower. The gap was closed by the end of the Asian session but the pair headed back towards the lows as Europe opened for business. 1.18 - 1.185 is the current range support and…
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George Soros champions Eurobonds

George Soros is out with his latest commentary. He believes Germany must champion a plan to convert all outstanding European debt into Eurobonds.
Failure to seize this moment would, I believe, lead to the disintegration and eventual collapse of the European Union.
Of course, many countries have lived through nightmares and survived. But the EU is not a country; it is an incomplete association of sovereign states that will not survive a decade or more of stagnation.
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mag 8 oct

I agree

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