You think that the meetings in Brussels will bring some resolutions? News from the finance ministers’ meetings and from elsewhere aren’t too good. Worrying signs about the European debt crisis come from 6 different countries. Here’s a quick update. The leaders are discussing and negotiating and they just add to the mess. Let’s start with the troubled countries and reach surprising countries as well: Greece: No decision made. The leaders are awaiting final result from the delegation sent to check up on the country’s progress. Well, everybody knows they didn’t meet expectations. A delay in making decisions isn’t needed for new checkups, and they reflect the fact that the leaders don’t know what to do. This ongoing uncertainty is bad for everybody. Let Greece default. Portugal: Bailout package agreed. Well, this was certainly expected, but the details are worrying. Portugal will have a limited time of 3 years to pay back, and is required to make austerity measures in the meantime. No debt restructuring included. Didn’t they learn anything from Greece? Probably not. The time period will likely be extended in the future, eventually leading to a default. Ireland: It’s becoming clear that the mountain of debt is unsustainable. Yet the finance ministers failed to agree on a lower interest rate for the emerald isle. What Ireland needs is a decoupling from its banks. Currently it just continues with plan that is taking it down. No hope there either. Spain: The euro-zone’s fourth largest country, often marked as the “next domino” reportedly has billions of hidden debt. at about 26 billion euros. Needless to say, this hurts the country’s efforts to distance itself from Portugal, Ireland and Greece. Cyprus: This small country was warned by Moody’s that it will be downgraded. Well, another downgrade in a small country? Where are the news? The answer is in the reason for the downgrade – exposure to Greek debt. This is yet another sign of contagion and may reach banks and sovereigns in Western Europe as well. Sweden: Don’t worry, Sweden is doing alright. The news are that Sweden joins Denmark in allowing senior bondholders to undergo a haircut. The Euro-zone countries will eventually follow. This is a sign. In the meantime, the debt is transfered from the banks to the taxpayers via bailouts. At least for now, the Euro is still stable. For now. See upcoming events and technical analysis in the 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 Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Forex News share Read Next Dollar takes a breather FxPro - Forex Broker 10 years You think that the meetings in Brussels will bring some resolutions? News from the finance ministers' meetings and from elsewhere aren't too good. Worrying signs about the European debt crisis come from 6 different countries. Here's a quick update. The leaders are discussing and negotiating and they just add to the mess. Let's start with the troubled countries and reach surprising countries as well: Greece: No decision made. The leaders are awaiting final result from the delegation sent to check up on the country's progress. Well, everybody knows they didn't meet expectations. A delay in making decisions isn't needed for… 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.