Hopes rise for solution to Greek debt problems
In a further extension of the uncertainty surrounding the Greek debt problems, stock markets within Europe have rebounded today amid hopes that there will be a "quick" solution. It seems that contradictory statements are being released on a regular basis and investment markets in the UK, Europe and the rest of the world have no clue what is going on under the surface.
As we have mentioned on numerous occasions, this ongoing confusion and chaos regarding the Greek bailout is having a massive impact upon investment markets. Yesterday we saw comments from the German government which appear to have injected some confidence into the markets but if the European Union is not able to deliver this weekend then we will be back to square one. Trust and confidence in the European Union is wavering by the day and there are concerns about the long-term confidence in Europe as a whole.
One day we hear figures of EUR45 billion and the next day we hear figures of in excess of EUR100 billion with nobody apparently aware of the correct figure. This comes at a time when many European counterparts are struggling to maintain their own finances and can ill afford to inject billions upon billions of euros into a bailout package.
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