FX Transaction Cost AnalysisKnowledge HubHonesty, Independence & the EUR debt crisis

July 3, 2012by John Galanek

Honesty and independence are crucial components for anyone who wishes to perform FX TCA.   While our mission at FX Transparency is to provide the best FX TCA on the planet, it is also important to share worthwhile items that have relevance to the currency and financial markets as a whole.

On the eve of Independence day in the United States, we wanted to share a link to video clip of Nigel Farage, leader of the UK Independence Party & Co-President of the Europe of Freedom & Democracy group in the European Parliament, from June 13th 2012.  This came prior to the Greek elections to support a bailout and the latest bank stimulus package. Nonetheless the crux of his argument holds true even after these events and portends for a long, volatile road despite the latest risk rally.

His brief tirade is outstanding, brutally honest, and cuts to the heart of the matter why the European debt mess is a slow motion train wreck.  While Mr. Farage may enjoy putting salt in the wound of the nations in the EUR currency, given that the UK did not join the currency union.  It is very hard to argue with his comments and logic, no matter your nationality or political leanings.

For your entertainment value he is not afraid to drive the bus over european prime ministers by name.  For those of you who like movies, I think it is the political version of Alec Baldwin’s “coffee is for closers” speech in Glengarry Glen Ross.    Enjoy.


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