Thu, 22 Dec 2011 05:12:00 +0400
Forex news. The web-site of European Union displays a video message from EU President Herman Van Rompuy, in which he announces that another meeting of EU heads has been planned for January 30, 2012. Formally, the problem of unemployment will be the key topic of discussion, whereas in fact the issue of Eurozone debt crisis will certainly be raised.
In general, the message is rather positive: "We are to take drastic measures in the sphere of unemployment. Providing financial stability within Eurozone is of major importance for our future. This year we have made significant decisions to fight the crisis of sovereign debt. Almost all countries, members of the union, are holding reforms aimed at rising the competitiveness of our companies and strengthening public finance. There is a social way out from crisis".
As a balance to the official optimism of European Union, RBC Daily newspaper has published a translation of Nobel Prize winner in economics Joseph Stiglitz’s view on current situation. Its main idea can be summed up as "World is on the point of new chaos". Stiglitz supposes that the best thing about the expiring year of 2011 is that it has probably been better than the coming 2012.
At FOREX market EURUSD currency pair is forming a rising wave "С" of h1 level, which corresponds to sub-wave "с" within the ТР (Turning Point) of h4 level.
4th sub-wave is being formed as a part of wave "С". As soon as it is over, the current rising trend will probably continue, provided that there are no signals about its termination. In such a case, point 1.3183 will be the nearest target, as stated by the specialists of the System of Early Prediction Sub-department under the Department of Masterforex-V Trading System .
SRP Sub-department under the Department of Masterforex-V Trading System will signal about the change of the situation or trend.
You are free to discuss this article here: forum for traders and investors
Ukrainian lenders and professional advisors dealing debt restructuring are going to meet in New York this week. The meeting is designed to discuss some technical issues related to the structure of the Ukrainian debt and clarifying those ambiguous points that seem unclear to the holders of Ukrainian bonds, Market Leader reports.
Greece has been in the headlines for quite a while. The Greek economy is on the verge of falling into the abyss of recession after defaulting on its debt. However, it is still unclear whether Greece are going to quit the Eurozone. There are almost zero chances to save the day. However, the existing Greek government is currently trying to avoid responsibility for the disaster Greece has found itself in. As you probably know, the local authorities are going to hold a nationwide referendum to let the Greek people decided the fate of their homeland as well as their own destinies.
After the Greek government announced a nationwide referendum on the fate of Greece as a Eurozone member on June 28th, European banks lost 50 billion EUR or market capital, European media report.
According to the analysts working for Credit Suisse, the odds of Greece quitting the Eurozone is 1/3. They assume that in case the so-called Grexit does happen, the Eurozone is unlikely to suffer a lot for it. This opinion is included in the latest overview for investors.
According to some international web sources, Greece may well quit the Eurozone in the near future after holding a nationwide referendum on whether the government should compromise with the troika of lenders. The referendum is scheduled for July, 5th.
The never-ending talks between Greece and its lenders are still underway. While Greece want its debt to be restructured to avoid a default and Grexit, the lenders want Greece to make concessions in terms of introducing more austerity along with multiple structural reforms. Despite the fact that the parties have become closer to compromising, there are still some unresolved issues on the agenda.
The never-ending Greek talks are still underway. Greece still cannot compromise with the troika of lenders over the debt and expected reforms needed to avoid a default. While there is no solution seen as the talks are nearing the deadline, the expert community is getting increasingly convinced that Greece doesn’t want to quit the Eurozone. Yanis Varoufakis, Greek Minister of Finance, says that Greece wants to compromise and stay in the Eurozone while avoiding a default but the conditions put forward by the lenders are weird and tough.
Angela Merkel has set the deadline for reaching an agreement in the never-ending talks between Greece and its international lenders. In particular, the German Chancellor defined tomorrow’s Euro Group meeting as the dicisive event in the drama around Greece, Market Leader reports.
The difficult talks between Athens and the troika of lender has been underway for quite a long time. So, Germany seems to be determined to put an end to this long-lasting game on Saturday.
More and more analysts from around the globe are trying to predict the fate of Greece. At this point, most experts are sure that Greece is going to stay in the Eurozone, but not for a long time.
The thing is that Greece has found itself in an economic trap. The summertime is going to be the time of big debt payments, which Greece cannot afford for now. The truth is that the Greek debt is 320 billion EUR, which is 177% of the Greek GDP! Still, on top of servicing the huge debt, the Greek authorities are obliged to pay salaries, pensions and provide social guarantees along with conducting reforms.