More than 40,000 deals have been made betting against the single currency, according to analysis of figures from the Chicago Mercantile Exchange.

Mixed signals -

Greek Finance Minister, George Papaconstantinou, said in an interview with Bloomberg yesterday, “The worst possible signal which we could send out is one calling for outside help.” Meaning we need it but we don’t want to tell everyone, whoops.

Whilst -

European Central Bank President Jean- Claude Trichet said Feb. 4 he’s “confident” measures announced by Greece will work.

Whatever anyone is saying, the market has bet almost £5billion that the value of the currency will fall against the U.S. dollar, the largest ‘short position’ since it was launched. With good reason…

Despite giant red flags to Europeans drowning in debt, some still don’t get it. In Greece, around 600,000 state workers, from teachers to tax collectors, are planning to strike for 24 hours later this week as they protest the austerity measures planned by Prime Minister George Papandreou. (Mail)

Meanwhile, credit- default swaps on Spain and Portugal rose to a record yesterday…and UK Gilt yields also jumped.

Where’s the sick bag, this ship ain’t steady.