The Dax takes another pounding

[ianash]

The Dax is down over 4% today, so far. Over the last 3/4 weeks I've been tracking the DAX against the FTSE and it seems to be doing even worse than our beloved index. It is becoming increasingly clear, that having a strong manufacturing base with big export markets isn't the "get out of jail free card" we were led to believe. If you look at the problems Germany are going to have to address, with the faltering eastern European economies added to the western euro members continuing excess budget deficits, maybe the sterling dead cat bounce will prove to be more enduring than many believe. All this in spite the clowns we've got at the top of Government.