Original version

BBC World Service Online

Business Daily

Factual: Money

The daily drama of money and work from the BBC.

Business Daily: Are Euro Attacks Justified?    

02/03/2010

Are Euro Attacks Justified?    

BBC World Service - Business Daily, Are Euro Attacks Justified?

A British hedge fund manager justifies speculative attacks on the Euro.

Are hedge funds right to attack the Euro and Greek government debt? British hedge fund manager Hugh Hendry says that speculation is good, if it throws light on political mistakes.

Speculators have made giant financial bets against Greek government debt, and against the Euro. Critics say that such attacks are de-stabilising and destructive. But the speculators, including a swathe of hedge funds and financial traders, would argue they are an important part of the machinery of capitalism because they point up big problems which need to be addressed.                                                                     
Recently, media reports suggested that hedge fund bosses got together for meetings in New York where they discussed whether the euro may fall in value to the point where it reaches parity with the US dollar.  Do these meetings amount to collusion? British hedge fund manager Hugh Hendry from Eclectica Asset Management says that is nonsense, and he argues speculation is good, if it throws light on political mistakes.

Plus Edward Yu from Analysis International describes how Chinese consumers use the internet.

And the BBC's Rachel Harvey reports from Bangkok on a row over environmental regulations at a huge industrial complex, called Map Ta Phut.

Accessibility links

Programme Index

Business Daily

Are Euro Attacks Justified?

Genres

Brand

BBC World Service Online

About BBC World Service