The saga continues. Now Greece is lashing out at the USA for the apparently careless way in which traders and speculators are treating the euro. Greece's prime minister Mr Papandreou accused speculators of acting with greed, betting against the euro single currency and on default for Greece. He called for US officials to reign in such behaviour and to tighten up the way in which the financial market is regulated.
To be fair, he isn't alone. France's President Sarkozy also called for an end to speculators taking the situation 'too far'. He stated allegiance with Greece and said that if they need support, they will get it.
So, are foreign exchange traders being too callous with the fortune of Greece (and the other nations in the 'PIGS' group (Portugal, Italy, Greece and Spain)?
Meanwhile, the pound has extended losses this morning as weak housing data was released, as well as ratings agency commenting that Britain's credit profile had "deteriorated".
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