Macroeconomic data shows that economic situation in Greece is getting worse. As stated by the country’s Prime Minister Antonis Samaras, this year GDP may drop by over 7%, instead of 5% predicted in April. Athens is unable to pay by their present liabilities, and new debt restructuring is most likely to be needed. In this reference, expenditure on restructuring may come upon ECB and the countries of eurozone. Greek debt is currently estimated as 200 bln. euro.
Ничего “For the last three-four months Greece has done nothing, and the situation is getting worse all the time,” as informed by Reuters Agency channel in EU.
Athens receives credit support of EU and IMF in exchange for budget saving program. Since the end of April program has actually stopped the program implementation.
Some time ago Greece was obliged to “save” 11.5 bln. euro by 2015, as stipulated by the program on reducing budget deficit. The Ministry of Economic Affairs has yet managed to save only 8 bln.
According to the specialists of the System of Early Prediction of , EURUSD is forming correctional pullback at lower timeframes of at Forex market. The pullback is currently represented by reversal price level m15 and its development. If impulse nature of the previous downtrend is broken, rising ABC structure with hidden wave B may be formed at h1 level. Such outcome will set the closest targets of EURUSD at the points of 1.2089 and 1.2118.
Analysis by: Alex von Stachelkopf, analyst of Forex EURUSD Department, trader of SRP Sub-department of
