Look, as the politicians would say. This is what is going to happen next. Cyprus will have a run on the banks come tuesday, as the troika are not going to bale them out due to all the dirty russian money in their banks. germany will just nor wear it, especially as merkel is coming up to an election. the result Cyprus will go bankrupt, and exit the euro. A bad time for a while but like all bankrupcies shedding the coat of debt will free them to grow as an economy. Greece will look over their shoulder, see this and do like wise, causing contagion throughout Europe. Spain and Italy will be next, and the Euro will inevitably crumble. sounds bad but i'm afraid it's the only way. It's got to get worse to get better in a sense, ask any bankrupt. Simple logic, just think of it on a domestic family scale, too many credit card payments etc, just a hampster wheel of debt with no chance of growth.
i said a few weeks ago to sell at around 370p and was mocked, by the people who thought it would just keep rising. What will happen is that RBS and Lloyds will zombie along for another year or two, but they WILL be fully nationalised sooner rather than later. to all you out there, SELL this donkey now. 290 in a few weeks will look like a great price.
Good luck, and excuse me for the spelling mistakes, if any.
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