Picking the winner of the Euros comes as a small relief from picking the winner in the great euro contest.
Fund managers already talk about the Battle of the Uglies - investors taking flight and hiding in the least risky countries (the US, UK or Germany) - but for the next three weeks the battle of the uglies will be fought out on pitches across the Ukraine and Poland. It means we get to see the truly ugly, such as John Terry and France's Philippe Mexes who are going head to head on Monday, while the Chancellor of the Exchequer sits there hoping for an uplift in consumer spending that should rise the longer England stay in the tournament. This time it is different. Expectations are low for...
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