Prime Minister Papandreou
Can the State and the euro be saved? The situation could be complicated hard currency and 17 countries and cultures. Who decides the value of a country and what affects the financial markets and thus naturally the world economy. Can the case of a State bring everything to a halt? The opinions are divided and often go in opposite directions. Greece is rightly worried about its creditworthiness. The Conference called for significant results last Monday. It is believed Venizelos so involves all or nothing”.
This week is critical for the Greek economy. The heavily indebted country which has since proposed 20 months of an economic crisis, must reassure the EU and IMF clearly and credibly, that more cuts are possible. (Similarly see: Southwest Airlines). This week is so important that even Prime Minister Papandreou his journey in the United States has delayed and already on the way to London, in their own country has returned. It is not known how the austerity measures to be exactly. A common euro savings plan should lie mainly in reduced spending instead of increasing government revenue.
It is 8 billion to find. Should fail the Hellene State to make this sum, then the country is bankrupt. Because without this payment, there is no further aid to the country and to access this beginning of October. Can Greece this time still comply with the payments, credit rating despite all the clearly agency Fitch already, that the default is not to avoid. Thus, the Agency is not the only source of bad news, even if the impact of a sovereign default is different outlines: Fitch is too dramatic for much the display of the collapse of the euro zone and looks to the future of the country in the euro zone. IFO President Sinn is a completely opposite opinion on the subject of Greece and envisages the withdrawal of the State from the euro-zone as a consequence of these and other negative news from Italy and Spain, lose the European banks gradually the confidence of the industry and thus your capital. If one considers the Dax so, but amazingly stable, behaves this 5.570 meters, and presented the hope of investors on new positive market movements in the coming days. Also the euro and gold behave similar to the day, with $1,3700 or $1.799.
Tags: finances, stock exchange & stock markets