Last week, Mario Draghi rolled the dice and held his breath. He received the news that he had hoped for on Wednesday. The Dutch elections went the way of  pro euro parties, and the constitutional German court in Karlsruhe also went more or less the way in which we wanted. So a good week all round for Super Mario.

Is the euro saved, well yes and no. That is a politician’s answer! It certainly is very good news for the shorter term, as market confidence has already made significant progress. The Italian bond yields were at their lowest for over two years, and in Ireland, their yield also dropped by 1.1% since its last auction in July.

The main cloud on the horizon is Spain, and it financial problems. As in last weeks blog, their political intransigence over a future  financial bailout will have serious consequences, mainly for them, but it will affect the euro. So we simply wait and see when Spain will wake up and smell the coffee!

The excitement of the week is now over, the dice table is put to one side, we just have to wait and see if Super Mario’s winnings will take the euro to safer ground.

For an European equipment leasing partner, with their finger firmly on the pulse, just call Oak, and let us use our expertise in helping you in the European equipment leasing market place.