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Betting On Eurozone Crisis

There are two voices at battle this Christmas, the sentimental tinsel- based emotionalism supported by a striving commercialism and the tirade of bad economic news. Despite the endeavours of the High Street and the Internet it appears that sales figures are down, despite massive reductions, as the nation fears for the buying power of the pound in the New Year. For every story framed by Rudolph and Santa, there is another about the euro zone crisis and the furtive to-ings and fro-ings of Angela Merkel and Sarkozy. Bookmakers Paddy Power are aware of these two trends and, now that the X Factor and Strictly Come Dancing are over, are headlining the gamble about which nation will leave the euro zone first.

Whilst this punt is hardly festive, it is a powerful undercurrent across the land. As unemployment figures increase and austerity measures bite even further, the prospect of a euro zone collapse and the potential knock on effect to the British economy, the turkey will certainly be tinged with worry this year.

It is no surprise that Paddy Power have Greece as 3/10 favourite to go. Athens was the starting point for the euro 's failure and whilst there have been several last ditch attempts to bail Greece out, the Greeks are increasingly unprepared to swallow the austerity measures that their 'saviours' are requesting.

In fact the closest country in the betting is Portugal at a lengthy 7/1, followed by Ireland at 8s and Italy at 12's. 2012 is likely to be a tough time for Europeans everywhere, whether in or out of the euro zone but the bookies may not be so worried. Historically gambling increases at a time of recession as chances are more readily taken to boost dwindling coffers.

Not a fun bet, like so many of the novelty markets usually are, but embed with a certain amount of adrenaline as Europe's fate reveals itself .

Eurozone Odds

Odds plus a host of Novelty Betting Opportunities courtesy of Paddy Power

Greece

3/10

Portugal

7/1

Ireland

8/1

Italy

12/1

Germany

12/1

Spain

12/1

France

Posted: Monday, 19th December 2011
Author: Suzi Flute
Tags: current affairs, angela merkel, sarkozy, x factor, paddypower,

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