Monday, March 22, 2010

Downfall of Euro?

Euro has been on a bearish trend for the last 4 months. I think everybody knows that.. But today I read a news article that in my opinion would be another blow to Euro's standing in the forex market. Greece has announced that if Europe doesn't find a way to help Greece's bankrupt economy it might resort to an IMF loan. Now if Greece does that, it would affect Euro's credibility. France is against this move but Germany apparently doesn't seem to mind the idea of a loan from IMF.

Now in my opinion the loan from IMF would be a bad idea for EURO and if Greece manages to land itself in IMF's complicated loan terms, Europe will have no option but to disown Greece of its membership with the European union in order to survive as world leader.