Photo: EU Budget and Euro Currency
EU leaders are planning to gather on Thursday and Friday in order to discuss the European budget for the period of 2014-2020. Francois Hollande, President of France, made a speech in advance of the forthcoming EU summit in Brussels. He spoke against austerity that hinders economic growth. He is also against brining funds donated to the common budget to such countries as the UK.
Mr. Hollande assumes that it is possible to reach a compromise during the forthcoming summit. However, it should be reasonable, without major budget cuts. Obviously, he meant David Cameron, Prime Minster of Great Britain, who urges everyone to practice austerity.
Forex.
In the meantime, the behavior of the Euro currency turns more controversial in advance of the forthcoming EU summit.
The chart below, courtesy of , reflects the current state of affairs in the market of EURUSD:
Alex von Stachelkopf, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
