Vlad Demochko
Forex news.
Decisions that have been made as a result of hard multilateral work on preventing default in Greece as one of euro zone countries are currently receiving practical implementation. During the process of providing the first financial support package and preparing the second one Athens have been visited on quarterly basis by representatives of European Central Bank, International Monetary Fund, and European Union in order to estimate the implementation of budget saving program.
Every time the country’s economy failed to fulfill the plan, which every time resulted in the delay of other tranches, in new requirements to budget optimization, in stressful situation connected with a threat of default, and, consequently, in large-scale protests from citizens.
In order to avoid similar actions in future the head of Euro Group Jean-Claude Juncker suggested assigning on a permanent basis a special commissioner that would help Greek government. "An authorized representative (commissioner) is to be assigned from Europe in order to help Greece in returning to economic growth," stated Juncker to the press service of European parliament. He added that it was high time to stop "humiliating Greece".
EURUSD currency pair maintains correction to the mid-term wave rising from point 1.2974 at FOREX market. The main line of AO Zotik index has broken through the flat zone of h4 timeframe, which, according to the specialists of the System of Early Prediction within Masterforex-V Trading Academy, speaks about high wave level of descending trend. After a pullback of correction sub-wave "с" will target at the point 1.3306 and the range of 1.3292-1.3275.
Vlad Demochko
