Has the Greek rescue package hit the buffers?
Speculators in the currency markets have targeted the euro amid concerns that the expected rescue package for the Greek economy may well have hit trouble. Despite growing concerns expressed by Europe's larger banks it seems as though the European Union is unable to reveal details of any package at this moment in time. Should we be concerned or should we await further details?
While rumour and counter rumour are circulating the investment markets it seems that one option under consideration is a purchase of Greek bonds which will help to stabilise the situation in the country. While sceptics are uncertain as to whether the EU would be able to assist Greek authorities in the short term there are others who believe the EU is literally putting the finishing touches to a wholesale rescue package which could take many forms and develop as the days go by.
The pressure is beginning to mount on the EU and it is almost certain we will see more information leaked into the market in the hours and days ahead because concerns about the Greek economy could translate to Spain, Portugal and beyond. We are now getting towards the crunch point for the European Union and we need details as soon as possible!
Share this..
Related stories
If you haven't got it how can you spend it?
As the UK population again moves under the spotlight regarding the fall in the UK economy many are now starting to ask the question "if you haven't got money how can you spend it?". A quick review of the last six months has seen the UK population pushed to the forefront of recovery plans in the UK and seen by many as the spark to light the fire. We have seen VAT reductions, base rates fall yet fur...
Read MoreCouncil tenants to lose right to lifetime occupation
11/12/2015 The government has announced new plans that mean council tenants will lose the right to stay in their homes for life. The new changes, which will be amendments to the Housing Bill, will mean occupational rights for new tenancies will only stretch up to five years at the most. If the amendment is passed into law, councils will have to provide people seeking council homes fixed ter...
Read MoreTesco shares lose another 15pc as profit warning is issued
09/12/2014 The financial pressure has been piled higher on the UK’s largest supermarket chain Tesco, as it was revealed share prices have slumped by a further 15 per cent. For the third time in a matter of months the supermarket giant issued a profit warning, downgrading its estimate from its previous forecast, and in turn knocking value from the companies share prices. Tesco made a report...
Read MoreShock Fall In Service Industry Employment Numbers
While there were forecasts for a reduction in the number of employees in the UK service industry as the economy slows, the latest numbers show how bad the situation really is. It seems as though the hotel and restaurant sectors have been the hardest hit with many observers reporting a ‘culling of jobs’ over the last few weeks. It seems that many companies have decided that they need...
Read MoreITV in complete chaos
After the most turbulent period in the history of ITV, things got worse today with news that Chairman Michael Grade, brought in as the saviour just a while ago, will be leaving the company in the short term. He is said to be in dispute with the rest of the ITV board regarding attempts to recruit former chief executive of BSkyB, Tony Ball.
Aside from the fact that Tony Ball's wage de...