Greek protesters take to the streets after cabinet changes.
Greece still has the attention of the world as it tries to regain prominence while needing an economic bailout from the euro zone. France and Germany are major players in determining if and when Greece gets more economic funding even as the Greeks enact new austerity measures for fiscal stability. Internal strife is occurring in the country that has analysts and economists wondering how new monies would be spent if distributed.
Thousands of Greeks marched in the streets Saturday (June 18, 2011) to protest Prime Minister George Papandreou’s new cabinet as he remains strong willed about enacting new austerity measures. Papandreou sacked George Papaconstantinou who has been influential in creating the 5 year austerity plans which sparked civil unrest about the economic situation in the country.
Can the Euro Survive?
Many analysts are beginning to make the claim that the Euro may be a failed currency. The Euro has been in circulation for a short time and it has never fallen for a sustained period which may mean that the currency has always been inflated when compared to the dollar from the very start. If the euro can comeback after and sustain its value after years of turmoil – that would be impressive. Months ago, we spotted problems in Greece – they have not subsided.