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Euro Shows Sign of Breaking Down After Greece Deal

We've written that Greece leaving the Euro could have the opposite effect on the currency by making it go up after a knee-jerk reaction, but the opposite is also true in the case of a deal where Greece stays in the Euro. In this case EUR/USD would have room to fall, breaking months of consolidation while markets were anticipating a conclusion.



The recent agreement for a 3rd bailout for Greece is by no means the end of the story. Even though Greece's parliament has approved the bailout conditions, we're now talking about a country which is in a depression as deep as the one from the 1930s which is now supposed to cut spending and contract it's economy further, according to the terms of the bailout. Instead of giving Greece a chance to get out of it's depression through economic stimulus, Europe is making Greece cut it's limbs off to heal a flu. The result will still be catastrophic and in now way is an exit from the Eurozone ruled out. In fact, this bailout may just bring the inevitable exit closer.

Thursday, 16 Jul, 2015 / 7:51

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Source : https://www.hiwayfx.com/market-news/euro-shows-sign-breaking-down-after-greece-deal

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