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Paddy Power are taking bets on which country will be first to jump ship on the beleaguered Euro. Bankrupt Greece, having just received a multi-billion euro bailout from its European partners, is the bookies 11/8 favourite followed by Portugal at 13/8.
Ireland is joint third-favourite at odd of 8/1 alongside Spain and Italy. Europe's currency has lost 6.5 percent this year, based on Bloomberg Correlation-Weighted Indexes. The dollar has risen 9.3 percent, and the yen has advanced 13 percent.
Paddy Power also have odds on when the Euro will reach parity with the US Dollar with 2011 now a quite likely 5/2 shot. Paddy Power said "As rumours spread about how several countries are keen to quit the euro its becoming increasing likely that the 16-nation currency may soon unravel"
First Country to Leave the Euro
11/8 Greece
13/8 Portugal
8/1 Spain
8/1 Italy
8/1 Ireland
12/1 Germany
12/1 France
14/1 Slovakia
14/1 Slovenia
16/1 Cyprus
16/1 Malta
20/1 Austria
20/1 Belgium
20/1 Finland
20/1 Luxembourg
20/1 Netherlands
- Euro to reach parity with Dollar
- 10/1 Euro to reach parity with the Dollar by the end of 2010
- 5/2 Euro to reach parity with the Dollar by the end of 2011
- 11/8 Euro to reach parity with the Dollar by the end of 2012
- 6/5 Euro to reach parity with the Dollar by the end of 2013
