Week difficult for Greece and the euro area

The differences in the euro area and the lack of progress in the file, the Greek to a new low in European stock exchanges, and the euro fell to its lowest level against the dollar at yesterday's meeting, which abolished the relative optimism, which was rumored last week. The Mahlloely «not to take any decision during the meeting of the Group euro at the end of the week », and they saw that European leaders« still Itbaton despite the need to move, and did not ratify the procedures established with this position, and predicted that «remains improve the position of the European markets is weak as long as no investors are to reach a permanent solution with regard to Greece». After a simple warned prevailed before the end of last week, and the closure of Bursatmrtfh, the response of financial markets yesterday morning and clear, with closed reduction Asian, and European, which fell significantly in the form. And banks in Europe have become once again the first victims, despite the extension of Italy, which plans to test reduced. Greece was at the heart of expectations during the conference via video with the troika, which represents creditors of any area of ​​the euro and the European Central Bank and the IMF. And will try to Greece to show its respect for the obligations in the budget, which is the only way to get the payments coming from international loans by about 8 billion euros in the decision expected in October (October) the next. The representative of IMF in Athens that «curtailed new budget is necessary». He said: «You have much support, as well as time, but should show the unit, including the political significance». He stressed that Greece «need to create an equitable yard work and to ensure transparency in the economy». It must also «limit the issuance of licenses and apply for more transparency in the market». It seemed the Greek Finance Minister Evangelos Venetsalos aware of the seriousness of the situation, saying: «This week will be very difficult for the country and the euro area, Crown Personally, I». He stressed at the opening of a seminar «Mannanzmtha British magazine with the International Monetary Fund and Greek businessmen in the resort of Vouliagmeni, near Athens, that« we all respect our goal for this year to cut the deficit to 1.8 billion euros, and reach a surplus in the budget year 2012 », but to achieve this goal «decisions must be made with after the historic». The official said a senior Greek government said yesterday that the inspectors of the European Union and the IMF expect to achieve in Greece, the proceeds of new real estate tax, half of the target, a billion euros for this year. He explained that the troika suggest that «less the proceeds of property tax billion euros from our expectations» and saw that «any decision regarding austerity measures further this year, will take scheduled to take place late yesterday between the Minister of Finance, Greek and a major team inspection of the European Union and the IMF in Greece» The German Ministry of Finance that the situation in Greece «did not deteriorate over the weekend». He called the former Director General of the International Monetary Fund Dominique Strauss Candion Greece », taking on the Europeans do not recognize the extent to which« the crisis that hit all the euro area »