Next week it is time to look at euro safety again when politicians in Europe will discuss bigger funds. Germany seems unwilling to make the funds big enough to save Spain and Italy. Citibank says Spain is the biggest problem and interest rates for loans are moving up again. IBEX is the weakest index in the euro zone and the monthly trend might continue sideways to down. Jobless figures are above 30 percent in many regions, big austerity programs in place and no growth. The government will present the austerity programs for Andalusia, the worst hit region, after elections before end of March.
Spain is very close to the 2009 start of the last bull market and has not moved on upside at all compared to the big indexes. A monthly close below the 2009 bottom would be catastrophic.
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