Yesterday’s EU summit was productive. By 4 a.m. the summit participants had agreed on all the controversial issues and had accepted a complex anti-crisis plan. Herman Van Rompuy announced that they would cancel a part of Greece’s debt (up to 50%), would give it another loan and would increase the EFSF up to 1 trillion euro.
Georgeos Papandreou, Prime Minister of Greece, stated that the decision opened a new era in the history of Greece.
As for the expansion of the EFSF at the expense of emerging economies, there are some difficulties. For example, China shows commitment while Brazil seems to resist the idea of sponsoring the idea.
FOREX.
According to the SRP Sub-department under the Department of Masterforex-V trading system , EURUSD keeps forming the upswing - wave C H4. The experts say that the next closest targets are 1.4136 and 1.4431.
To define the vector of the forthcoming movement we apply the SRP elements and other binary patterns by MF.
