Forex news, euro rate. As stated by German Chancellor Angela Merkel, allowing Greece to quit euro zone membership will be a political mistake, and Germany will not let it happen. The head of German government has specified that Germany will do its best in order to keep the number of euro zone members and save euro rate. Merkel has remarked that Greece has a lot of problems that have a particular impact on euro rate, but the government is striving to solve them in order to remain a part of euro zone.
Besides, German Chancellor has also expressed her opinion about financial aid to Greece. She supposes that Greek economy does not need new credits, for the last 130 bln. euro tranche of financial aid will be enough to support Greece at least till 2014. It is worth mentioning that the share of Germany in saving Greece was the largest, which resulted in discontent of its population.
Angela Merkel has also given positive characteristics to Great Britain for implementing harsh austerity program and warned that the government of sovereign European countries should pay more attention to expenditure. According to her, “No country can live not on its means”.
According to the Analytics Team of Commodity Trading Department of , at the beginning of European trading session euro rate is traded at extremely low, even for Asia, points, between support and resistance points 1.3350-1.3400. Rising movement is limited by yesterday’s stop-point from the current high of 1.3374. If supply rises and support is broken, there is a likelihood of decline to 1.3300; otherwise, further movement within short-term rising trend may happen.
