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Economic slowdown points to European crisisAfter a disappointing release of economic data from all corners of the world last week - China and the US, besides the EU, seem to have reached an economic standstill and are reporting worrisome data about the dynamism and direction of their economies - all eyes are pointed toward what many start to consider the central problem of the situation, and not just geographically: the European crisis, and the inability of its leaders to come up with a believable - and shared - plan to solve it.Spain's banking system is still in dire need for help, and the country is expected to ask for a bailout package the size of EUR 62 billion today. Greece has still to begin introducing reforms that will allow it to exit its current crisis without exiting the EU. An agreement on how to correct Europe's course in order to go in the direction of growth has not been reached. This all leads to a loss of trust in the efficacy of the upcoming European Summit which will take place at the end of the week, which is behind the fall of the EUR against the USD which is seen as a safer haven for investors. Archived NewsAs an ECMarkets Trader, you have unlimited access to all our archived news Click here to go to the News Archive |
  
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