The Euro to US Dollar (EUR/USD) exchange rate is forecast to claw
back some lost ground next week but any gains will all depend on the
outcome of Monday’s crunch meeting of European Finance Ministers.
Economists are hoping that a deal will be reached between the Syriza led Greek government and its creditors in the European Union (EU), European Central Bank (ECB) and International Monetary Fund (IMF).
A similar meeting held on Wednesday ended in a stalemate with no decision being decided. Greece is set to run out of funds at the end of the month and time for a compromise to be reached is running out fast.
Greece’s government has said that it will do everything it can for a deal to be reached but added that it will not abandon its pledge to the Greek people to end austerity. Data released at the end of the work further highlighted the challenges facing the country as it showed that the Greek economy contracted by 0.2% on a quarter on quarter basis in the final quarter of 2014.
In comparison Germany’s economy expanded strongly and the Eurozone as a whole expanded by 0.3%.
Read more at Click here / www.trade4x.net
Economists are hoping that a deal will be reached between the Syriza led Greek government and its creditors in the European Union (EU), European Central Bank (ECB) and International Monetary Fund (IMF).
A similar meeting held on Wednesday ended in a stalemate with no decision being decided. Greece is set to run out of funds at the end of the month and time for a compromise to be reached is running out fast.
Greece’s government has said that it will do everything it can for a deal to be reached but added that it will not abandon its pledge to the Greek people to end austerity. Data released at the end of the work further highlighted the challenges facing the country as it showed that the Greek economy contracted by 0.2% on a quarter on quarter basis in the final quarter of 2014.
In comparison Germany’s economy expanded strongly and the Eurozone as a whole expanded by 0.3%.
Read more at Click here / www.trade4x.net
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