Greece Set To Ruin The Eurozone After Another Austerity Agreement

While the markets rally on Monday, gloomy news is the reality for Greece after the the Austerity Agreement. This will only delay the inevitable default in my opinion and cost the Euro Zone even more.

Should Greece exit the Euro zone and default? I think so, I think they have no choice and in the end any delays could mean a worse situation in the future.

greece islands

Above – Beautiful seaside view in Greece – Image Source from Mariamichelle ( of Pixabay )

Anyways my thoughts are on this that i think many should consider, imagine having a big credit card in the billions and then each month only paying the interest only.. That is exactly what the Greece agreement is doing, so in reality without growth in this country which is exactly nothing at the moment due to unemployment and homeless this only suggests a worse recession for Europe further down the track.

My thoughts are now considering the banks in Europe are not lending that within the next few months Greece will be in the same position except worse and Europe will progress into the worst recession in history thus pushing the Euro value down to as far 1.15 mark which will crush many currencies around the world including pushing the AUD down as far as 0.97 cents US or further.

When exactly this will happen is exactly when the markets actually realize what is really going on. For now people are blindly being positive and the Euro is rallying. For how long is really up to the progression of how long misleading news can effect someone.

If you are thinking of going long on the EURO consider placing a stop loss in profit almost straight away and when it does turn it may be the right time to again invest in the US currency once again.

My take is bearish on the EURO..

About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

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