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EURO woes as deadline approaches for Greece and IMF

Discussion in 'Market Predictions and Reports' started by BMFNDarren, May 30, 2011.

  1. BMFNDarren

    BMFNDarren Company Representative

    May 30, 2011
    Likes Received:
    Tens of thousands packed a central Athens square on Sunday in a non-partisan protest to denounce the nation's entire ruling class, but they also directed their anger at the International Monetary Fund and its demands for yet more austerity.


    But Boston Merchant Financial asks the question what if Greece doesn't get the bailout?
    An article released in Germany by Spiegel magazine says "the country might have missed all fiscal targets set by its lenders".
    • What would be the impact on the EURO?
    • What would happen to Greece should they leave the single currency?

    There were flashing warning signs of sovereign debt becoming unmanageable. When entering to the single currency some of the currencies fixes where crazy and certain voices displayed fears for reprisals on countries like Greece, Portugal, Spain and Ireland could happen.

    Today we have seen the Euro pull a from a key chart resistance as this uncertainty looms over how Greece's debt crisis will be tackled

    With trade lackluster due to holidays in the US and also across the pond in the UK, analysts expected the euro to trade below its 55-day moving average of $1.4326.

    We should be able to gage a firm understanding of Euro once these sovereign debts issues are firmly address and outline Who, What, Where and WHEN!!

    Will be good to hear peoples thoughts on this subject what will happen to the EURO and more importantly what will happen to Greece?

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