Euro Fall Due To Panic
(Bloomberg) -- Harvard University Professor Martin Feldstein said the euro’s 4.6 percent decline against the dollar this year has been “panic selling” stemming from the financial crisis in Greece.
“The euro is weakening despite their better trade balance,” Feldstein, an economist, said in a Bloomberg Television interview broadcast today. “This is a kind of an irrational or panic selling where people are just saying, ‘I don’t know what is going on, I am just going to step to the sidelines and not leave money in euros.’” Read the full article
The only good that I can see in this whole disaster (Criminal Ponzi Scheme) is that if the Euro currency falls, especially against the British Pound, it might translate to more tourists coming to Corfu in the summer. The weak Pound has hurt tourist all over Greece and especially on Corfu. We can only wait and see.
EU Nearing Bailout For Greece...
(RTTNews) - The European Union is working on reaching an agreement on a bail-out deal for Greece, media reports said Saturday. Euro leaders are set to meet in Brussels on Monday to finalize the proposal.
The multi-billion euro rescue package would provide loans and guarantees for Greece if it sought help for financing its deficit, reports said citing EU officials. The Greek crisis had hurt the 16-nation currency, euro. Greece has not asked for financial help thus far.