29/04/2013
EUR/USD intraday will be the upside prevails.
Pivot Point: 1.3015.
EUR/USD Technical Levels LONG positions above 1.3015 with targets @ 1.3085 if this point brack then will be 1.3105.
The downside pe*******on of 1.3015 will call for 1.2995 if this point brack then will be 1.297.
World Forex Organigation , Forex Signal , Forex Broker
World forex Business News site. Free Forex signal Provider , Tacnical Analysis and many more .
01/06/2012
Leaving Euro a ‘Disaster’ for Greece: Former Minister
The euro is in the best interest of the Greek people, despite the fact that Greece should have undertaken reforms a long time ago to be a viable member of the currency union, former Greek Finance Minister George Papaconstantinos told CNBC on Tuesday.
Image Source | Getty Images
Allowing Greece to be pushed out through a process of default or leaving the euro [EUR=X 1.2405 0.004 (+0.32%) ] would be “a disaster” for the country, he said.
“Incomes would drop another 20 to 30 percent. Inflation would skyrocket up to 30 to 40 percent again,” he said.
He believes that the country’s euro zone peers are keen to keep the country in the euro.
“Our European partners want us in the euro zone ... the stability of the euro zone would be very much weakened if one country exits, because the contagion effects are very hard to predict,” he said. “So leaving the euro would be very bad for Greece and would be very bad for the rest of Europe. In that sense I think that every effort will be made to see if we can improve on the current set up.”
Greece will hold new elections on June 17 after a previous election failed to produce a clear winner and smaller parties were not able to form a coalition government.
Papaconstantinos said he believed the last election was a vote of anger and disillusionment.
“This election makes the reality much starker …. So, in a certain sense, it is a decision about staying within the euro and seeing how we can formulate perhaps a better deal for the country. I think the combination of these two elements is what will clinch this election,” he said.
“The last result gave a very fragmented picture. We narrowly missed being able to form a government because some of the parties of the left refused to play ball,” he said. “It’s very clear to everyone that Greece needs a government, and it needs a government the day after the election …. We need coalitions to be able to deal with the big problems.”
Papaconstantinos said the country needs time to implement reforms, and its people need to be given some sense of hope.
“We need a broad coalition government. One that has not only a majority in government, but also manages to convince Greek society that there is light at the end of the tunnel,” he said.
“We’re in the fifth year of recession . Incomes have dropped dramatically; wages are down 40 percent in the public sector. Unemployment is over 20 percent. One in two young people are out of a job. So it is very hard to convince people that this is the way to get out of the crisis,” he said.
While structural reforms need time to play out, we often forget the distance that has already been traveled, he said.
“We have managed to reduce the primary deficit by 8 percentage points in two years. This has never been done in any other country. We’re close to running a primary surplus,” he added.
10/01/2012
http://www.bloomberg.com/markets/currencies/americas
Americas Currencies: Foreign Exchange Rates
Currency exchange rates for Americas currencies. Find forex trading information for Americas currencies.
12/10/2011
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