As a schizophrenic world quickly lost its dollar-hating-euro-love, look how quickly Credit Default Swap (CDS) spreads for European nations exploded upwards. All it took was roughly a month, as exemplified by the spike for Greece. This Greek financial crisis was all it took to end talk of the euro as a replacement for the U.S. dollar. Chart via Index Universe.
Using the market’s view above, here’s how the European dominoes could collpase — first Greece, then Ireland, Spain, Italy, and Portugal.
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