Sunday, June 17, 2012

America unhappy at Greek vote

American propaganda against the Euro will continue unabated inspite of the Greek vote yesterday.

One headline in relation to the result says: "New Democracy ekes out win in Greece" (!). 

No relief at the Euro decision, after having blamed the Euro systematically over the last several months for the continuing state of the US economy!

So what is likely to happen now?

The Euro will strengthen marginally, but don't expect any long-term improvement in the Euro for the next several months till the structural issues of the Euro are addressed.

As I have written several times, the struggle in the Euro-area concerns the future political structure of the area.

Some Euro-area countries will opt in to a much tighter political and financial structure, others may opt out.

However, the Euro is solid and is here to stay. 

The degree of solidity will depend on which country exactly is in and which is out.
Sphere: Related Content

No comments: