The European Union and the International Monetary Fund have agreed to bailout Greece, which is reeling under debt, with a €110 billion package. The move is expected to help the Euro stabilize. Global stocks rose as investors became more confident of a financial rescue of the country. [Read more…]
Dollar Gains Upper Hand Against Euro
As skepticism continues about how effective Greece’s actions will be in dealing with its debt problems, the dollar rallied to gain an upper hand over the Euro after a long gap of 2 years. Not only that, it has recorded the highest gain per quarter as compared to the Euro in this period.
Euro countries are still threshing out the final plan which will help pull Greece back on its feet but no positive conclusion is imminent yet. Given the uncertainty in the situation, the general confidence in dollar is growing by leaps and bounds. Traditionally, the dollar has always grown stronger in face of uncertain Euro performance and vice versa. [Read more…]
Will Greece be The Next Fallen Economy?
While investors are finding some solace and showing a modicum of approval in Greece´s plans to cut spending and raise taxes in order to meet their debt payments. The same investors are greedily licking their chops wondering who will be the next to fall victim to mismanagement and future debt default. [Read more…]
