Photo: Greek Polices Joins Protesters
As a response to the Greek government’s plans to dismiss over 12 thousand civil servants (as demanded by the troika of lenders), thousands of public sector workers filled the streets of Athens. Yesterday, on June 8th, almost the entire public sector of Greece was out of order. Even the police joined the protesters.
The police were planning to continue the strike today. They are afraid that as a result of a structural reform some of them may lose their jobs. The rate of unemployment in Greece has already reached catastrophic levels – 30% of the entire working population with almost 50% unemployed among the youth.
Apparently, this is another bearish factor for the weakening European currency. The chart below, courtesy of the Department of Masterforex-V Academy, reflects the current state of affairs in the market of EURUSD. A further decline is highly probable after the current consolidation.
Alex von Stachelkopf, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
