The euro halted its downfall this week, which was caused by the concern about the Greece’s ability to deal with its budget deficit, amid the optimism caused by the announcement about the possible European Union government and the International Monetary Fund intervention to rescue Greece, but this optimistic outlook can be cut shot by the German resistance to the bailout plan.
Germany denies rationality to offer the loan at the
The reason for such pessimistic outlook may be the fact that the rescue plan by EU and IMF wasn’t clear enough to substantially support the optimism for the bailout. The Greek Prime Minister has admitted that Greece wouldn’t be able to deal with the budget deficit without the outside help.
EUR/USD closed this week at 1.3360 after it opened at 1.3493 and reached its weekly lowest level of 1.3282. EUR/JPY closed at 125.72, rising from the opening level of 124.73. EUR/GBP closed at 0.8733.
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