29th November 2011
There are two main issues which continue to impact on the eurozone and forex trading of the European single currency, a sector expert has argued.
Jason Gaywood, consultant at currency specialists HiFX, said despite the introduction of a new Italian prime minister, two-year debt is now costing the country twice as much as it did just two months ago, while there appear to be rifts emerging between the large EU economies and those on the periphery.
He argued the fact that Germany and France are openly exploring how to increase EU fiscal integration without the need to secure an agreement from all the member states is the most compelling evidence yet that fears of the total collapse of the euro are haunting the region's largest economies.
Mr Gaywood commented: "This stance is in direct contrast to the rhetoric of even a week ago when it was very much 'all for one and one for all' and highlights the current tenuous position [of] the EU."
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