EURO BANKS DISPLAYS PANIC WITH POSSIBLE FAILURES (522 hits)
YOUR WORLD NEWS June 2012 15th Day London Source: Reuters
With the trouble Euro holding on to avoid a fallout central banks form major economies stand ready to take steps to stabilize the financial markets by providing liquidity and preventing a credit holding on to avoid failures. The europe index fell to a 3 week low against a basket of currencies. However, much of the euro will trade in in the near term depending on the outcome of the Greek elections pending in on Sunday. Trades said the euro had scope to post short term gains if Greec's pro-bailout parties win on Sunday. If the scenario where far- left bailout parities win the euro could drop down to a two-year lows it did earlier this month.
Uncertainty keeps the display in a panic and much riding on the Greek austerity becoming worse. Panic of the slow economic growth is also hitting home banks and finaicial grown in Spain, and giving Italy a little bit of a boot kick in the behind. Some financial experts are hoping any possible failures will not happen and that disappointments will take on a growing change whichwill help the Euro become stablized.
It's a bit complicated, but it all means the outlook is a bit shakey...
