The European debt crisis weighed heavily on the economies, stock markets and the value of the euro in the past few years and there was a sense that solutions were unsatisfactory to say the least. There is a general notion of “kicking the can down the road” while the situation continued deteriorating. However, there are some small signs that some kind of light could be seen at the end of the tunnel. Perhaps not too soon, but these signs could be more than green shoots. Peripheral countries more competitive: According to a new research by the Association of German Chambers of Industry and Commerce, the most hit countries have become more competitive: labor costs fell by 15% in Greece since 2010, Spain cut its current account deficit by 50% and Italy is close to balancing its trade deficit. The report is generally optimistic, stating that these countries are “much further along with reforms than is generally believed” and that growth should return in 2013. Less Doom and Gloom: Marc Faber, the legendary investor who foresaw the 80s stock market crash and was nicknamed Dr. Doom before Roubini, is now buying European stocks and see value in them after they were slammed. When a known pessimistic has something positive to say, perhaps we should listen. Acknowledgement about Greece’s importance: Quite a few German politicians took turns in talking about a Greek exit of the euro-zone and not giving more money to Greece. On this background, it was very interesting to hear that Michael Meister, vice chairman of Merkel’s CDU party, discussed the geopolitical importance of Greece. Also another member of parliament, Armin Laschet, mentioned Greece’s importance as a NATO member state, given Russia’s wish to enter a potential vacuum should Greece leave. This refreshing talk shows that a Grexit is not that certain any more, even if Greece continues missing its targets, which it will. There are naturally many reasons to be pessimistic. For example, the euro-zone is contracting and there is fear that the head of the Bundesbank might quit in protest over the plans to shore up the euro. What do you think? Will see some light at the end of the tunnel anytime soon? Further reading: EUR/USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next US Jobless Claims: 374K – A Slight Disappointment Yohay Elam 10 years The European debt crisis weighed heavily on the economies, stock markets and the value of the euro in the past few years and there was a sense that solutions were unsatisfactory to say the least. There is a general notion of "kicking the can down the road" while the situation continued deteriorating. However, there are some small signs that some kind of light could be seen at the end of the tunnel. Perhaps not too soon, but these signs could be more than green shoots. Peripheral countries more competitive: According to a new research by the Association of German Chambers… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.