Downtrend of Euro as a result of German-Greeks conflict
The Greeks have formed the new Government.
Q. Does this mean that now the so-called "Greek question" is closed?
A. No, it doesn't.
A. Because now the European Union and especially Germany will have to listen Greeks proposals about time-out of cutting in social programs. These measures are prescribed in conditions of the financial help to this country.
Can you imagine the German reaction for this news?
Please share your thought about this situation in these Thread.
Last edited by Pipzilla; 06-25-2012 at 03:25 PM.
It is a completed situation for the European Union and no one can really expect what will happen eventually. I think that it is Greece's interest to remain part of the EU but they will have to implement the rough cutting plan. This problem is far from being solved and I cannot se a bright future for the EU, especially when other countries ask for help, so I believe that we are going to see the Euro around 1.20 by the end of the year.
Here is news which practically reflects my point of view: "Egan Jones, the small US-based rating agency, downgraded Germany from AA- to A+ with negative outlook. The reaction in the Euro was muted.
"German chancellor Angela Merkel continues to create tension with EU member states by resisting calls for EU bonds (shared liabs.)," says the official report. "Money printing calls and for her pushing for fiscal controls and the seniority of bailout funding.The fallout from a likely Greek exit needs to be monitored. We are cutting to " A+ ."European - crisis