Ukrainian Globalist

The future of the euro is like a tale of Atlantis. The European Union has a decent respect for tradition: every crisis to draw into an advantage. European sclerosis (the term originated in the late 70′s – early 80′s, and characterizing the high unemployment rate against a background of high economic growth) and budgetary squabbles 80 preceded the appearance of the Single European Act of 1986, and the crisis of the ERM , Burst in 1992-1993, accelerated the creation of a single European currency.

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Currency exchange rates remain volatile today. USD exchange rate decreases slightly. Today during the European session, the euro to dollar is behaving very calmly and showed no reaction at all published slightly earlier data on the index PMI.

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Market pressures brought the issue of fiscal consolidation in the first place on the agenda, so the controversy over the austerity measures have a distinct ideological overtones. Supporters of the fiscal consolidation is often blamed for the fact that they are pushing the world economy to the brink of a precipice called a recession, it is believed that once the policy had saved us from the Great Depression, they will not cause us any harm, and can be fully relied upon to select the correct fiscal way.

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The exchange rate depends not on the euro in Greece or Hungary, and from one of the countries – the founders of the euro area … The future of the euro looks unreal. Greece went into the background, now it is just “the opening act.” All eyes are on Spain, a country that is destined to have a significant impact on the future of the euro, as well as to determine whether a new system of management control over the budgets of the Eurozone countries. It will be a crisis in Spain – the situation will change for the better in the world.

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The currency exchange rate gives us a record decline in the euro today. Single European currency is on the verge of collapse. The euro / dollar continues to fluctuations between the levels of 1.1900 and 1.2000. Dollar / yen has stabilized in a narrow range. Continuing correction after yesterday’s rate of gold increasing to a record high.

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France recognized that the preservation of its credit rating would be difficult to implement without the use of any hard budget decisions, after the German government earlier hinted that Berlin might resort to raising taxes to reduce deficits.

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The exchange rate euro set another historical low. Will the single currency to exist in 10 years? Now the question is even harder to answer than three months ago, when the leaders of the European Union gathered in Brussels for the first time to make threatening gestures with his finger and give the markets of Greece dim promise of “unity” in the event of financial difficulties. Exchange rate euro falls faster and faster. Do not underestimate the political will to preserve the single currency. Indeed, since February, the EU restores power. But the domestic crisis is growing even faster.

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Is it true that Europe has made the impossible and got free cheese? And it looks that way, judging by the movement of stock markets, currencies and securities with fixed interest rates after the implementation of programs to save 750 billion euros. Investors breathed a sigh of relief, and shares soared upwards in all areas of the world after reporting a 20 percent increase in stock price of European financial companies, which is hard to believe.

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