Ukrainian Globalist

Greek Finance Minister George Papaconstantinou said that the country in the first half of this year has reduced the budget deficit by 42%. He expressed hope that Greece will again be able to borrow in financial markets in 2011. This means that the country exceeds the indicators established by the International Monetary Fund and the European Union in terms of 110 billion euro emergency loan this year.

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Today it is known that the Greek Government has endorsed a draft reform, which includes a reduction of pensions and raising retirement ages. To save the economy, Greece began selling off land and even islands. For external debt is about 300 billion euro.

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Dow Jones Industrial Average confidently went into the red zone. The collapse occurred at the end of trading on the stock market today. The level of support for the Dow Jones Industrial in the second half of the trading session substantially reduced. Trading in the U.S. on Tuesday June 22 ended lower indices. The pressure on the market have weak data from the housing market. In addition, sank sector oil companies against the background of falling prices for black gold. As a result of trading the index of “blue chips” Dow Jones Industrial Average fell 148.89 points or 1.43%, to 10294 points.

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Gold price set a new record against continuing fears over the economic outlook in Europe on Friday, 18 June. As a result of the regular trading session on the New York Mercantile Exchange, NYMEX, the August futures for gold delivery have risen by 0,8% to $ 1,258.30 per troy ounce.

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Bad news from Europe may omit a positive attitude bulls on today’s bid for Dow Jones Industrial Average. Dow Jones index is under pressure from the European negativity from the start of futures trading. Dow Jones Industrial Average could fall below 10,100 mark in early trading session. So, let’s take a look what happened in Europe:

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Dow Jones Industrial Average increases in the range 0,4 – 0,7%. The level of support Dow Jones Industrial from the bulls remained stable. At the opening of stock trading in the U.S. 15 June 2010. expected to increase leading indexes. This is evidenced by the dynamics of futures on the leading stock market indicators. Now the quotations of futures for the Dow Jones index rose by 50 basis points (0.49%), the index of Nasdaq – 11 points (0.6%), the index S & P – 6 points (0.55%).

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Europe is in the very difficult position in the history of the European Union. The exchange rate euro became the most vulnerable throughout the existence of a single European currency. Euro drops every day, with the hopes of the rising euro has not. Today the Euro updated in relation to the dollar a historical low in the past year and a half, but just the beginning of the year the euro zone currency has lost in relation to leading world currencies over 13%. The sharp depreciation of the euro exchange began late last year. In Greece, came to power a new government, which reviewed almost all the economic indicators articulated by the previous government.

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At least 200 people have today broken through the building of Ministry of finance of Greece and occupied several offices. They are representatives of labour unions cooperating with the Communist party of the country.

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