The Greek government reversed the referendum that had come on Tuesday, after verifying that end, a similar measure, is much closer than if you do not. Papandreou and his people finally seem to understand that, although able to put "the ropes" to the European Union, demanding a bailout so definitely threatens to bring down the Euro, the dominant powers are not willing to continue supporting this kind of outrage.
The days go by, Greece runs out of money to pay government salaries and running costs, and only now his government would think that, after all, is not so convenient to have a currency like the Euro, impossible to devalue by local ordinance and impossible to issue its own to continue paying populist policies.
In this regard, there are indeed two points of view: a European interest and have a partner, or just continue to have problems, such as had from the accession of Greece to the euro, through falsified statistics?
We adhere to the second alternative. Looking to the future of the Euro, it seems appropriate that this continue to happen, even though Greece now backed off its threat to leave out the single currency. In any case, the EU has shown an excess of patience with a government that seeks only to win elections, regardless of the consequences worldwide is taking its action. But it also showed an alarmingly slow reflexes.
Quick reflexes, on the other note outstanding on Thursday, the new president of the European Central Bank, Mario Draghi, cut the benchmark interest rate by surprise, in a move expected next month.
The official, speaking with a sober, no ads strangers, and with a heavy dose of realism, debuted resonate well in office markets. And did not miss the opportunity to make the first move in monetary policy, perhaps something demanded by the situation created by Greece.
The Euro reacted to the floor before the rate cut, as was logical, but then, before the day that had the NYSE stocks, returned to a level with rising trend, which was accentuated by the suspension of the Greek referendum.
The remaining coins accompanied the mood of the markets, which was logical swings a day very special. Mario Draghi, said the region is headed for a mild recession.
