Finnish elections might cause Euro to ‘panic’

Monday, 18 April 2011 11:38

Finnish elections were completed over the weekend. Three types of parties were in action, as follows: The True Finns (anti-euro) placed third collecting 19% of the votes. The ones critical of the Portuguese aid package but yet supportive of the euro (Social Democrats) assembled 19.1% and the National Coalition Party with 20.4%. As previously mentioned Finland is a one of a kind on Europe as the only country with the Parliament that votes on EU inquiries for bailout funds. Finland could vote and veto against the aid package for Portugal, which could delay provisioning in funds and ‘panic’ the EUR.

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Portugal’s central government deficit falls

Friday, 15 April 2011 03:43

Portugal’s central government deficit fell to 148 million euros in the first quarter from 1.8 billion euros a year earlier and state spending fell 3.7 % in the quarter

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The Swedish currency appreciated

Friday, 15 April 2011 02:18

The Swedish currency appreciated against both the euro and dollar for a third day. The Swedish economy is expected to grow 3.8 % in 2012 and 3.6 % in 2013.

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Ireland’s soverign rating has been dropped

Friday, 15 April 2011 11:12

Ireland’s soverign rating has been dropped from to BAA3 from BAA1, pushing the euro lower and adding to renewed pressure on Euroland’s weaker countries.

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EUR weakens against major currencies

Thursday, 14 April 2011 05:20

EUR/USD traded at a low of 1.4365, failing the attemp to trade over 1.4520. EUR/JPY traded at 119.55 from 120.87. EUR/CHF went from 1.2949 to 1.2856, strengthening the swiss franc. The European currency weakened against the US dollar, swiss franc as well as the Japanese currency.

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