Anti-Euro events this week: - The govt of Portugal collapsed after austerity measures were rejected - downgraded to BBB - French and German relations, already strained, getting worse over Libya (http://www.spiegel.de/international/germany/0,1518,752992,00.html) Pro-Euro events: - EU agrees to create a "permanent crisis fund" (http://www.spiegel.de/international/europe/0,1518,753145,00.html), mostly revolving around hundreds of billions of Euros in credit guarantees, in large part deriving from Germany. However, Merkel's govt loses what little credibility it has left daily... The German public is not keen to bail out anyone. Is this a real solution to the European credit crisis? Even Ã¢âÂ¬700 bn seems a bit short to cover the debt problems of Greece, Ireland, and Portugal, not to mention potential issues with Spain and Italy looming large. I do not envision Germany's next government being quite so forthcoming with bailouts. Evidently, the market thinks it is sufficient... but I remain unconvinced. However, as we all know, the market can remain irrational longer than I can remain solvent ... Thoughts? Opinions?