Another Euro Group meeting is scheduled for the end of this week. The finance ministers are expected to expand the EFSF. Most probably, the compromise will be reached around €700B euro. Although the Euro Commission and the OECD offered a €1-trillion expansion plan.
Not so long ago Jean-Claude Juncker, President of the Euro Group, discussed the eurozone’s financial security with Jean-Claude Trichet, ex-President of the ECB. Jean-Claude Trichet underlined the EFSF’s role as a deterrent but he wouldn’t like to use it. The meeting is especially important as Germany has approved the merger of the EFSF and ESM.
EURUSD keeps forming wave C H4. According to the SRP Department of , a further rally up to 1.3413 and 1.3457 looks probable at this point.
