Saturday, May 7, 2011

Lyrical Dance Costume Dress Patterns

Manualillos for a crisis (1)

I do not see themselves ... Greece
Expansión.com 5

06.05.2011 The Government of Greece may be considering the possibility of abandoning the euro zone, according to Spiegel Online's daily quoting sources German government.
[Photo story]

Specifically, states: "Spiegel Online has obtained information from German government sources familiar with the situation in Athens, claiming that the Papandreou government is considering abandoning the euro and re-introduce its own currency."

According to the Ministry of Finance to the cited Spiegel Germany, the Greek currency would have 50% of its value, due to the drastic increase in public debt helena (which last year was 142.8% of GDP the country). Their level of government deficit in 2010 stood at 10.5% of GDP, as confirmed a few days ago the European Commission.

also the article says is also considering a possible restructuring of the Greek short-term debt.

In this regard, Spiegel notes that the German government would oppose such a debate.

According to this information, the Commission had convened a crisis meeting in Luxembourg on Friday night. However, Reuters notes that the president's spokesman Guy Schuller Eurogroup has denied "categorically".

The Greek deputy finance minister joins the denial and denied reports that Greece has raised the possibility of leaving the euro.

euro zone sources have acknowledged that some Ministers are meeting in Luxembourg to review the problems of Portugal and Greece and to address the succession of the European Central Bank but nothing else, according to Reuters.

The reaction of the euro
The possibility that Greece out of the euro area has fallen like a bucket of cold water in the currency market. Nothing else on the news, investors accelerated their divestitures in the European currency. The euro, which had hitherto remained at $ 1.45, is now down 1.03%, to $ 1.438.

The new fall away even more to the euro for three-year highs reached on Wednesday. After arriving in touch $ 1.49, yesterday's meeting of the ECB and the subsequent press conference the president of the monetary institution, Jean Claude Trichet, cooled trading.

concluded market Trichet's words that the central bank rate hikes postponed until late summer, prompting yesterday a vertical drop of the euro from $ 1.49 to 1.45. Now, rumors about a possible departure from Greece in the euro added further pressure to the single-currency, which had recovered strongly in recent weeks with increasing interest rates in the euro area in early April by the ECB. Same

0 comments:

Post a Comment