May 3, 2012
Euro falls to lowest level since September 2010
The euro is under pressure: When he was a good start into the new year, it now falls to a 16-month low. This is due to the downgrading of the creditworthiness of Hungarian and reports of new problems in the debt-ridden Greece.
The euro has fallen in the night to Monday because of concerns over the escalation of the European debt crisis in comparison to the dollar to its lowest level since September 2010. At times, the European single currency had fallen to $ 1.2666. Finally, the euro could, however, recovered slightly and hovered around the mark of 1.27 dollars.
The European currency has for days because of a further escalation of the situation in the highly indebted southern European countries under pressure after it was launched with prices over $ 1.30 in the current year.
Experts made the continuing bad news on the European debt crisis responsibility. Without a better outlook for the euro-zone there would be no real recovery for the euro, Rob Ryan said of the bank BNP Paribas. The Asian stock markets traded mostly weaker. In Japan, the markets remained closed for a holiday.
The concerns about the development of the European economy with the downgrading of the creditworthiness of Hungary again became larger. The country has now received from all three rating agencies to junk status. Also, a mirror-report that the International Monetary Fund (IMF) no longer believes that Greece can carry its debt based on the current redevelopment plans permanently cared for unrest.
Weaker in Australia, South Korea and Hong Kong-listed the major stock markets. Bucking the trend put the shares in Shanghai. The index traded just over two percent higher.
On this Monday advising Chancellor Angela Merkel (CDU) and French President Nicolas Sarkozy on the next steps in the debt crisis. This is not just about the implementation of the Fiscal Pact, which seeks to ensure that euro-zone countries and EU countries to rein in budget deficits. Berlin and Paris are working out ways for even more growth and employment.
Topic in the Chancellor's Office should also be the faltering billion-aid to Greece and the financing of the bailout ESM, which should already start in mid 2012. It is also possible that coordinate with Merkel and Sarkozy over the planned introduction of a financial transaction tax. Paris is considering going it alone if necessary. Discussions will likely also the threat of downgrading the creditworthiness of France and other euro countries.
by erectusplus at 3:48 AM |
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