Well, the exchange rate will be set by the FX mkt, no? Conditional on EUR breeakup, where would you make me a mkt in the NDEM/EUR cross?
There was a time in the 1970's I believe when people paid interest to Swiss banks to hold their deposits. Big time I mean... For those that appear stunned, possibly because of ignorance, negative rates is what you usually get from governments when you buy debt if you subtract inflation.
Beats the hell out of me... If France and Germany were to exit I'd definetely place NDEM higher than whatever the EUR would trade at.
Well, there you go, mate... You and I are in agreement and we're both likely to be bullet bid for thargs of NDEM/EUR. That's why German bubills are trading where they are.