Germany’s Angela Merkel won a parliamentary vote on the Greek aid package after warning German lawmakers that pushing Greece out of the euro would risk “incalculable damage”. The vote revealed dissent in her coalition with 496 members voting in favour of the €130 billion package, however, 90 voted against it with a further 5 abstaining.
Merkel’s government pushed through the measure to stave off a collapse of the Greek economy amid signs of growing resistance as one of her cabinet ministers called for Greece to leave the single currency.
This week sees a raft of US data releases which will be judged against the market’s expectations of an improving economy. First up yesterday was the pending home sales index which showed that contracts to purchase previously owned homes were near a two year high. The index rose 2 points to 97 giving further evidence the US housing market is slowly turning the corner.
The Euro was under pressure before the German vote before recovering ground to around $1.3450 with GBP slipping below the GBP/EUR 1.18 level.
Do you want to earn some extra money? Then you can profit from our affiliate program by referring a company or friend that may benefit from our services and earn a commission in return.
Posted in Daily Market News on May 30 2014
The German parliament votes today to endorse the new Greek bailout package. A positive outcome is expected despite additional pressure following the G20 decision at the weekend. No additional funds will be provided by the IMF until Eurozone countries increase the size of their own firewall.VIEW FULL ARTICLE
Posted in Daily Market News on Feb 27 2012 by alex