07 November 06:44 AM
Greek leading political forces have agreed to create coalition government and have set early election for February 19, 2012. Georgios Papandreou had to quit his position of Prime Minister as a result of such consensus. This fact was proved by the press release, issued by the President’s Administration.
One thing is known for certain – Evangelos Venizelos, current Finance Minister, will keep his position. Moreover, he is most likely to occupy the position of new Prime Minister. The decision will be taken during today’s meeting of Papandreou with the opposition leader Antonis Samaras. Greece will also be represented by Evangelos Venizelos during the meeting of the European Group.
It is currently of vital importance for Greece to at least create the image of political stability, for if the sixth tranche of financial aid is not unfrozen in the nearest future, default is inevitable.
Technically, EURUSD currency pair keeps forming an intricate wave “B” of H1 correction level at FOREX market. Sub-wave “c” is currently observed within the wave. According to the specialists of the System of Early Prediction Sub-department under the Department of Masterforex-V Trading System , correctional wave “C” is to be expected within the considered timeframe at the intersection of ML (Main Line) and RS (Resistance/Support). If ML bounces from RS, correctional wave “B” will continue.
The System of Early Prediction Sub-department under the Department of Masterforex-V Trading System will signal about the change of the situation or the direction of trend.
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