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Broadgate: Market News 23/2

23 February 2012

Whereas a fresh economics agreement on behalf of Greece achieved previously in the current week was able to place the ailing economy’s debt on a stronger path, risks in the days further on could turn over the program.

Certainly, the agreement was reached along with a rising air of stalemate and alarming conditions.

Greece’s foreign lenders has spoken worries that the new austerity procedures the Greek Parliament agreed in the previous last week, together with a 22 % cut to the private zones standard minimum earnings; would in fact be carried out, at least before early national elections presently in April.

The International Monetary Fund (IMF) expressed that definitely there are massive achievement risks over the subsequently few days and they need be practical about the funds as they’re not yet in the bank, although their country’s fate is certain in abstract.

Complex discussions in Brussels, Berlin and Paris as a great deal as in Athens, many Greeks believes that they had start on to feel that the debt write down and new loan is aimed at saving the banks more than the Greeks and its people.

The Greece’s two chief political parties has covered and given the IMF and the euro group assurances they will continue to carry out economic reforms regardless of the results of elections planned for April.

Asian stocks in the present day fell at a good number in a week and the Australian dollar weakened for now. China’s standard money market rate rise high as lenders paid higher interest rates intended for government funds at an auction today.

The information set out herein has been obtained from various public sources and is by way of information only. Broadgate Financial can accept no liability of any sort in relation thereto and readers should obtain their own verification of any statement before making any decision which may have any financial or other impact.

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