Euro Gains on Monday Markets

The euro started this week making gains, following advances on the equity markets from Friday.  As investors took strength from Friday’s gains on many of the main market indices, safer assets became less attractive, including the yen and the US dollar.

While the European debt crisis is far from over, and the concerns surrounding the region having reached levels where even the Bank of International Settlements (known as the central bank of central banks) has compared the situation with that of the US subprime morgage downturn, investors are clearly looking for any excuse to head back for some risk.

Over the weekend, thousands of protesters took to the streets in cities around Europe, to demonstrate against the austerity measures and cutbacks that they are now facing.  In Berlin, left-wing protesters took the opportunity to detonate a splinter bomb, causing injuries to 15 police officers, two of them seriously.  In other cities demonstrations appeared to run more calmly.

With slogans from political puns to those as basic as “Moneybastards” [sic], people danced to rap music and expressed their anger at governments which in their eyes are to blame for the severe debt problems that the EU is currently facing.

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