The exchange rate of U.S. dollar and euro will be equal

Euro and dollar - who will win the rally

In brief: The exchange rate of the dollar and euro can compare the price in the nearest future.

Euro is very weak for the future growth. The financial crisis in Greece could adversely affect the value of the euro, bringing the rate of the currency may become equal to the dollar, – said the chief economist of Deutsche Bank, Thomas Meyer. “I think the dollar will soon be 1.2 euro and the further depreciation of European currencies is possible”, – said Meyer.

Over the past few weeks was an increase in the dollar and decline of the euro on the world currency market, according to the Forex signal. Thus, May 7, 2010 euro dropped in price to 1.2759 dollars, while still on May 3 was trading at 1.3243 dollar level.

May 7, 2010 EU Commissioner for Financial Affairs Olli Rehn said that the possible default of Greece could cripple the global financial system. The potential impact on the system compared with the bankruptcy commissioner of the American bank Lehman Brothers in September 2008. Recall bankruptcy of Lehman Brothers has become one of the largest in U.S. history and led to the exacerbation of the credit crisis.

Now Greece is on the verge of default. In May 2010 the country should pay 9 billion euros of debt, but for the entire 2010 – about 50 billion euros. Without a credit support from other states, Greece is not likely to be able to pay on time and will be forced to default.

In early May 2010 the European Union and the International Monetary Fund adopted a program of support for Greece, which involves the provision of country of over one hundred billion dollars over three years at a rate below market. Within the framework of the EU will allocate 80 billion of Greece and the IMF – $ 30 billion. In return, Greece would fulfill a number of conditions, including reduced government spending and budget deficits.

Ukrainian Globalist
2010-05-09 13:29, Currency news.

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