23 April 2010

Greece Caves in and Calls for Bailout

Greece sent the euro shooting up today - yes, up! But why?...

Well, today they finally announced that they would be accepting the large bailout package which has been put together by other EU nations (well, those in the Eurozone) and with help from the IMF.

The news brought some relief to investors, who can now foresee that Greece might be able to clear up its financial mess.

However, foreign exchange market insiders commented that the relief to investors is only likely to bring short-term interest in the euro and that the IMF's involvement could be bad in the longer-term for the euro.

No comments: