Traders splash £5 billion betting against the euro

[Son_Of_The_Republic]

Traders and hedge funds are making record bets against the euro, underlining the mounting alarm over the region’s debt crisis.

Market players have bet almost £5billion that the value of the currency will fall against the U.S. dollar, the largest ‘short position’ since it was launched.

European governments have been drawing up plans for a possible bail-out of Greece, amid fears it could be spiralling towards debt default.

Traders splash £5 billion betting against the euro as the single currency falters amid debt crisis

[Vega1447]

The Irish Govt spends #5B every few months propping up failed Irish banks... and a failed economy...

So why should we get excited at a piddly "almost £5billion" bet against the Euro?