More analysts say that the eurozone break-up is inevitable. They say that the steps taken by the European authorities are aimed at winning some extra time instead of resolving the issue. Despite some positive news form the eurozone, the real causes behind the debt crisis are not eliminated. Some of them say that Greece may leave the eurozone within the next 6 months while the eurozone may break up within 2-3 years.
If to consider the real figures, Greece’s current debt is roughly equal to 200% of GDP while its budget deficit is 7% of GDP. It is hard to imagine how to country can improve its creditworthiness if its GDP has been declining since 2009 (now it is around 5.5%). Therefore, we can conclude that Greece will leave the eurozone in late 2012, thus losing the financial support of the EU/ECB/IMF trinity of lenders.
Forex.
According to , the Euro currency keeps strengthening against the US Dollar. The experts report that EYRYSD is forming a big-scale upswing represented by wave с(С ) of Daily
A further rally will probably encounter resistance around 1,2908 and 1,2930 The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 1,2561 (as shown below).
