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Jakobsen on Greece: Someone needs to lose big
Greek shares rallied on Tuesday after hopes were raised over a possible debt deal with the country and its creditors. However, Saxo Bank's Steen Jakobsen suggests it's likely to be a false dawn. After years of 'pretend and extend', he says, 'there's only one solution left; someone needs to lose big".
As a trader, Steen says the situation is grave. Not only is he heavily positioned in fixed income but he's also increased his gold holdings.
02:20 minutes
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