Greek PM Papandreou stands down – what does this mean for the Euro now?
Well, it appears that the Greek PM has finally stepped down this morning after what can only be described as a embarrassing week in charge and we now eagerly await what happens next in this saga. The Greek Government are due to agree on the name of a new Prime Minister to lead a unity Government until fresh polls have been held, what is this now going to mean for the Euro?
This can be seen as good news (albeit minor) for the Euro however much now depends on how smoothly and swiftly the next stage takes place and whether it is satisfactory enough to still warrent Greece being helped out with the funds they so desperatly need… this week is going to no doubt throw up a lot of surprises for the Euro and indeed some great buying and selling opportunities shall arise – the key is being in a position to be able to take advantage of them.
The general feeling is that once things are resolved that the Euro could see strength again as the uncertainty is once again placed on hold until the next crisis pops up – however in my opinion this will only be short term as I will eat my hat if we do not see another crisis pop up, the whole European problem is not something that is going to go away with one resolution and we are assured of some terribly rocky markets along the way.
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