Why the Euro is worth something and the £ is not

[DimPrawn]

ECB raises key interest rate to 1.5% - Jul. 7, 2011

Expect more money printing here instead.

[Jog On]

ECB suspends collateral rules for Portugal | ForexLive

The bad debt from Portugal is no longer used as collatoral for the rest of the EU, great news for France and Germany, their rates are no longer affected by the periphery, great news for euro to as the eurobonds will no longer be discounted by the horrific rates of the periphery. As a second effect, the Portuguese no longer have the same collatoral requirements as the "good" countries, making it easier to manage their debt.

Not good news for the PIIGS, great news for the euro.

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