Euro Break-Up: Greek Drachma Would Depreciate 60%, PIIGS Down 25% To 35% |
| December 05, 2011 | December 2011 Bond Updates |
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The European sovereign debt crisis continues to shock markets as the risk of a potential EU break-up increases. In a report released Monday, Nomura’s fixed income research team analyzes the potential depreciation of new Eurozone currencies in the case of a break-up and sees the Greek drachma falling almost 60% over 5 years; the group of PIIGS plus Belgium would suffer a 25% to 35% depreciation, while Germany’s hypothetical new mark would gain marginally. |
| View more at: http://www.forbes.com/sites/afontevecchia/2011/12/05/sp-confirms-germany-and-frances-aaa-rating-is-under-creditwatch-negative/ |
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