Many market commentators and media outlets would have you believe that the Greek financial crisis is a new occurance. It would be a convenient truth if indeed no one could have seen this coming and that there isn’t systemic weakness in the Euro.
But unfortunately unlike fairy tales the European story has, for the time being, ended with some of the weakest countries in the Euro being burdened with more debt than they know what to do with.
And it most certainly hasn’t happened over night.
But perhaps more remarkable than the USD to EUR is the AUD to EUR. Yes the Australian dollar has seen a rise in popularity which has been unequalled in recent times, save for that most comfortable of relationships everyone has for gold.