In the end, there’s just nothing to be gained from taunting the speculators, and announcing that they’re being “irrational” or abusive.
Now all of Europe seems to be jumping on Germany’s anti-speculator bandwagon, though as Peter Boockvar notes, it’s up to each individual country to implement new rules, which just once again speaks to the lack of eurozone coordination.
But beyond that, all this talk has done NOTHING to tame the “wolfpack,” and in fact it seems to have pretty clearly made things worse.
France is down 3%. Germany is down 2%.
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