Tatiana Dementieva
Under the continued pressure coming from the Euro Commission and the IMF, Spain had to implement tax hikes. In particular, the VAT was increased from 18% up to 21% for most goods and from 8% up to 10% for tourism and transportation. Some foodstuffs and medicine are exception.
The new measure will help the Spanish government to raise €9.5 bn. Madrid needs to cut the budget deficit down to 6.3% of GDP (as a part of the agreement with the IMF and European lenders). However, some experts say that taking into account the fact that 25% of the working population is unemployed, these tax hikes may provoke a further employment decline.
Forex.
The chart below, courtesy of , reflects the current state of affairs in the market of EURUSD. The currency pair continues its rally. The closest level of resistance is 1.2689.
Анализ: Alex von Stachelkopf, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
Tatiana Dementieva
