This OCT could get nasty with Spain at 25 percent unemployment and hurting and a reporting season potentially full of worse than expected results and credit downgrades for a host of Australian companies.
Spain and Italy's interest payments are due in October, and Greece and Portugal also have some payments due later this year also.
We are riding the fringe of a perfect storm, it hasn't kicked in yet and don't be fooled. Cast your mind back to the year 1914. By April that year things were looking better than they had been for a number of years. All was good indeed.
Then, June 28 and Ferdinand..............the rest as they say is history.
Don't be blinded by rose colored glasses.