Forex Notes

The Majority Of Germans Favor The Exclusion Of Greece From The Euro Zone

Majority of Germans believed that if the problems worsen Greece, the state should be excluded from the euro zone.

A survey conducted by the newspaper Bild am Sonntag, showed that 53% of Germans favor the exclusion of Greece from the euro area in the next few months, if circumstances so require. Also about 2 / 3 of respondents expressed unequivocally opposed to the money in Germany participated in the rescue of the Mediterranean states.

Results of the survey underline the dilemma encountered by the ministers of the eurozone countries, which last week pledged their support to Greece, but the immediate plan of action has not yet been submitted. On Friday, the euro fell to 9-month low, with most analysts expect, and further weakening as investors were disappointed by the inaction of governments of other countries in the euro area.

Lisa Hintts from Moodys commented on the situation: "Default Greece is potentially another credit crisis. And the problem is debt rating reflects the risk not only of Greece but also in other European countries. This could be a harbinger of bankruptcy of the banking system of Europe."

Recall that in the decree, issued last week after an EU summit, has been identified as follows: "The countries of the eurozone intend to take decisive and coordinated action aimed at preserving the financial stability of the euro area. At the moment, the Greek Government did not seek any financial help" .