Euroland....Spreads wider

This a.m. we see continued pressure in Ireland (+15 bsp), Spain (+8 bps), Portugal (+12 bps) and Greece (+20 bps)! Even if there's no liquidity/turnover it's for sure that there are no buyers. ECB has to step in again today and that will be a done thing.... Bunds had a choppy session yesterday and we look to sell again at our prefered sell level in Bunds at 130.75/85. EUR/USD seems to have topped at 1.39/40sh and with the peripheral disaster there's no argument at the moment to get long Euros. Germany and France (only today!!!) are still supporters of sovereign debt restructurings and that is currently the reason esp. for bond holders of Irish issues to sell their holdings (Portuguese and Greek as well...). Nevertheless make no mistake and keep G20 meeting at the weekend in mind- Euroland does not have a reason for a strong Euro currency. By coincidence I am born as a German and my experience with German politics/behaviour or call it feeling is that Germany will swallow much much more (means bailing out the rest of Euroland) than most of the street guys think! German taxpayers (not Germany itself) guarantee for approx. 150 bln € and why not moving it up to 250 bln € for the sake of the One currency dream????