The decline of the European currency seems more and more terrible. Technically, a series of important levels are being punctured. Fundamentally, it appears even worse.
The parliament of Germany confirmed the next trench of aid to Greece. Though, the issue is postponed now. Still looking at the budget of Greece for 2012, it will not be able to meet the requirements of the EU and the IMF.
The main reason for that is the recession of the country’s economy the indicators of which appeared above the forecasts.
This situation is decelerating and making more complicated the process of the funds’ allocation to save the Greek economy. However, today there appeared the information about that the Greek Ministry of Finance agreed upon the issues with the ECB, the EU and the IMF. Thus, Greece is likely to get the following trench in the amount of 8 trillion euro, which will give the default a respite. I underline this word, it will be a respite. Now there are too many viewpoints of experts stating that Greece default is inevitable.
Numerous economists consider it an impending act of clearing, which is to restore the economy. However, the situation should be considered in a different way. If the default (crisis) is an act of healing the economy, in other words, a vaccine, one cannot but agree that a vaccine for a healthy organism can really be recovering. But a weak organism can die of it.
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