Monday’s Euro Zone meetings may not contain the solution for the Greek economic situation. Finance ministers from around the Euro Zone will gather today to discuss Greece’s current situation.
[column size=”1-2″ last=”0″ style=”1″] The Eurogroup President Jean-Claude Junker, speaking ahead of the meeting, expressed that he did not anticipate “definitive” decisions to be made on Greece at Monday’s meeting.
The troika has not yet agreed on how to find additional funding for Greece.
The troika is a term for the three most powerful organizations over Greece’s financial outlook. The organizations are the European Commission, the European Central Bank, and the International Monetary Fund.[/column]
[column size=”1-2″ last=”1″ style=”2″] [/column] ‘Help Me!’ – Greece
Greek wants help as soon as possible. It could come sooner than we think. As the new year approaches, further developments from the troika could bring a plan into action to help Greece. If this were to happen, I don’t think it would be beneficial to to the euro.
Junker said in October concerning another Eurogroup meeting: “I don’t think that we will have any major decisions on Greece,” said the Eurogroup Chairman. When he was asked about a soon coming decision on Greece, he said: “Hope never dies.”
His expectations for this meeting are similar. By tomorrow, we will hopefully have some direction concerning Greece’s funding but, if not, it could come very soon. It appears that the EUR/USD will soon close below 1.27 which will be a low not since since September.
Later on this week we have other Euro events. I only see one that is a “high-impact”, the German ZEW Economic Sentiment, early tomorrow morning that will be released.
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