Greece influenced on the decline of the euro by Zivka Deleva

It seems like Greece has still succeeded in decreasing the value of the euro currency, like analysts doubt for months. Greeks bad fiscal policy and the bad capability of convincing Europe for help, brought the stable currency in danger. After ten months domination over the dollar, today the difference is smaller to the U.S rival, the dollar. The euro has tough times against Swiss franc as well, for the first time in the euro 15-year old history. Other opinions say that maybe the fear about the euro is a little bit overreacted. U.S stocks climbed, but bigger global shares slipped as traders didn’t want to take risks and invest in European business. Tomorrow the Union! is going to hold a summit on that issue. There is no more time to prolong the crucial problem that Greece has. According to Olli Rehn, EU Monetary affairs commissioner, “the union must decide on a way to help debt-laden Greece this week, or run the risk of causing a ‘serious disruption’ for the euro.” Sixteen of the 27 EU members use the euro as official currency. Germany was the first country that turned on the alarm on the question of the euro and the dangerous consequences that each euro zone country might feel, just because of bad economy. Merkel underlined that Greece must ask for International Monetary Fund help, too and the euro zone partners must involve some discipline measures. German people didn’t want to give Greeks money loans, and it seems like that was very obvious and logical. German people work hard for to give away their money so easily, especially for someone spendthrifts like Greeks. On the other hand, analysts say that ! EU is in big trouble even if it finds solution for Greece. "T! he uncer tainty over an aid package for Greece is clouding judgment toward the euro. Even if the IMF comes in, it shows the EU is not able to help itself," said Antje Praefcke, currency strategist at Commerzbank.

by Zivka Deleva for Cantell TV (http://cantell.tv)

Cantell TV is the fastest growing provider of digital broadcasting coupled with telecommunications, allowing people to easily control, view, upload and share digital content through proprietary interface coupled with free phone calls. Cantell TV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers.