German Chancellor Angela Merkel and French President Nicolas Sarkozy met yesterday in Berlin to discuss the measures aimed at toughening the control over the budget spending of some eurozone members. Nicolas Sarkozy underlined the necessity to sign the agreement until March 1st, a month before the previously stated date.
The leaders of Germany and France also reminded other eurozone members about the necessity of contributing to the EFSF on time in case.
They called upon Greece and its lenders to finish the talks on the country’s debt restructuring to give ground for receiving a new tranche in order to avoid a default.
All the EU leaders, except the UK, agreed on new fiscal policies and tougher financial control in December. However, the details haven’t been specified so far.
FOREX.
In the meantime, according to the Department of Masterforex-V Trading System , EURUSD has finished the downswing C inside the “Hound of the Baskervilles” pattern by Elder/MF. The closest levels of support are 1.2672 and 1.2571. In case the price breaks the MF pivot 1,2847 and the MF sloping channel (as shown below), there may be a change of trend.
