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Greece appointed a new Prime Minister in Lucas Papademos yesterday in a bid to make vital changes

11th November 2011

Greece appointed a new Prime Minister in Lucas Papademos yesterday in a bid to make vital changes to stop the esclation of the huge financial crisis. Mr Papademos was one of the founders of the Euro and served as Vice Prsident of the ECB from 2002 to 2010 so has plenty of experience.Questions do lie over whether Greece has gone to far to be rescued and its removal from the Eurozone is only a formality.

Growth of the world economy not just Europe will be a slow and laborous process but we need to separate the wheat from he chaff . The prephiery countries in Europe have for to long borrowed money they could not pay back, and Germany and France were happy to lend it. We are in a situation now were the PIIGS don’t get $200 for passing go and they don’t have a Get out of Jail Free card left. For to long there as been a acceptance and endosement of debt. The bankers are wanting there money back and the domino effect will be disastrous.

Posted By Andrew Johnston

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.