So professional currency speculators are essentially placing negative bets on the Euro via the Greece debt crisis. The global currency race to the bottom is in full swing. Funny thing is that Germany actually benefits with a cheaper currency since it is a major exporter in Europe. In the meantime, the Greek populace gets it Greek style via austerity measures (higher taxes, pay freezes, etc) all because their wonderful Gov't/Kakistocracy colluded with the likes of Goldman Sachs to hide their debt..... It won't be long before the professional currency speculators in the US collude with all the born again deficit hawks in gov't to impose Friedmanite Chilean style shock therapy on the US populace. This is what happens when you subsidize and bail out financial oligarchs and terrorists who speculate and misallocate capital instead of engage in capital formation and true investment in productive capacities. Fact...global credit crisis will not abate until the US restructures its economy in a transformative way and restores it long term viability. The global recession that governments are trying to forestall via QE is forcing down global imbalances and overcapacity built up in the bubble years. Central bankers are in panic mode as they try to maintain the old order and save their banker buddies at the expense of the real economy. It's a complete mess...