Is Eurozone Losing Members? (ms)

The G-8 Summit held last weekend fueled up investors optimism relatively euro. During the meeting the major countries leaders reached a verdict that Greece should stay within the Eurozone.

As a priority goal there was chosen the economic stimulation in contrast to a tough retrenchment policy dictated by Germany, and an active fight with unemployment. Today every tenth resident of Eurozone is unemployed.

However, the currency market participants put hopes on another informal summit of European countries leaders scheduled for May 23. The main discussion subject is the single European bonds issuance.

Euro leveled up relatively the US dollar to 1 dollar 28 cents.

Nonetheless, bearish sentiments still remain. In case there is no favorable outcome from the informal summit, euro is to start its down-going motion.

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