Greece now in "Great Depression," PM says

O for fk sake, don't compare your state to other countries when you lot of politicians been spending monies where you do not have n lied your way into the Euro with empty accounting balance sheets. One thing I've always been thankful about - that is I live in a country that does not belong to EU zone!!!!!! Hallelujah!

So Monday eurousd will be ranging 1.2150 to 1.2220/ 1.2280
Will it break 1.2144 ?

is that a bad news for euro?

Yes, below 1.2 this month. 1.15 by end of August.

This BAD are so long time reuters just reminde it

thanks vexel...I m kinda new in fx,need people like u for support.

bad for euro

Why the heck ECB's Draghi said that euro is not in danger, when on the other hand, Greece, which is a country within Europe, now says that Greece is in "GREAT DEPRESSION"?

Must be, one of them got totally insane... Or they are trying to repair(worsen) their economy... lol...
Whatever maybe, but this increased the chances for EURUSD to open with some gap...

Oanda just opened at 1.2115 and heading lower!

euro in not danger..see the daragai column

Germany is about to throw in the towel...the game over is approaching faster than so-called financial analysts could predict...EUR/USD will record below 1.15 before the month ends and I will be surprise if it stays above 1.2100 for this week...very soon one EUR should exchange for less 100 cents USD...the real nose-dive is coming unless BOJ and US Fed give another life-support...China now has more big to chew so her mouth is full...
--how can EUR be saved? many good ideas had been tried already and any more left?

If eur / usd will rise this week, better keep your eye in graphic formation in the price of 1.22850. This area was extremely negotiated in the last two weeks, 2010 low and became a resistance formed in the 2008 crisis.

stay below 1.15 EUR/USD is good for EU for recovering from financial crices

why 1.15 not 0.8 or 0.5 it's obvious that week currency will help, but FED knows it better ...

First cheating and then wining... They could sell their islands, LOL

1.212 now

oanda opend at 1.216

eu going to died.

alpari opened @1.2116

I am really impressed Abt people who was talkin last week of euro recovery and now they are pessimistic Abt the market...when too much talking Abt euro is dying I will be a buyer this week

Greece is like a wounded animal and is very desperate right now, and at the end of the day they dont care what ECB or Draghi has to say. Im sure ECB is pulling their hair out and wish that Greece would just shup up for the sake of the EUR but its not going to happen and we will continue to get these conflicting reports. I think as long as we have this inner tug of war between ECB and Greece the only smart thing to do is SHORT. When/if they ever decide to get on the same page only then will we start to see some significant rallies.

i was in shorting position since last thursday and just closed. i think the level is just too low to go down anymore and very risky.

I to expect the EUR/USD to go down but not before it goes up to 1.219 then go down to 1.17 or lower.

Let's see what bernanke has to say on Tuesday before analyzing where euro is going..I guess it will be a very volatile day

lets go up euro.....!!!!!!

66.6% of retail traders are long euro... http://fxtrade.oanda.com/analysis/ Do you really think Oanda is in the business to lose money? Euro will continue down!!!!

Things change, times change and reality sinks in hard - it looks like a time to sell. Sure it is tricky and price is so low anyone can make the point - we are close to the bottom - but this bottom looks very deep with the panic in the air.

LOL..ok sure keep hoping. unless ur being sarcastic

Hope Greece will push through for recovery..All the best!

Painful medicine for Greece but best if it says bye bye to Euro.
The general Greek population with have drachma at probably 30% less (ie you thought you had a dollar in the bank but now it is worth 70 cents!).
Lower currency and out of the Eurozone means a more competitive position with exports...that's the good news.
The bad news is that it will hurt a lot of people who did the right thing with their personal finances (in the short to medium term).

No easy way out although some might argue is has been a long time coming seeing the way the politicians bought votes and the population wanted the good life to continue for ever without someone asking how it was all being paid for?

Ungodly news at this ungodly hour, on an ungodly day (that would be any monday)

"Athens must reduce its budget deficit below 3 percent of GDP by the end of 2014, from 9.3 percent of GDP in 2011 - requiring almost another 12 billion euros in cuts and higher taxes on top of the 17 billion successive governments have cut from the budget shortfall."

---- If they have to do this, then they just THINK they are in a great depression now.

Yes, if the long holder rate is so high, EU will go down

We see that after Greece, also Spain is in the same situation, soon also Italy.
In this way all Europe we'll fall down.
We hope that won't happened. The BIGS should take a decision very soon.

cannot have monetary union without political union.

shhhh... do not disturb my short position you fool!

I am more depressed than Greece and Spain !

old story ... can they tell me something new ?

Old story yes but something to keep in mind when you tally why the Euro is locked in a fall versus when it can get out. A different spin on that sound bite for instance would be a sign. From ways of the market by a future writer.

You speak for many people my friend. These are unusual days for traders its like being at sea in storm - not sure if you are gonna make it back. We traders are not always honest people but your honesty touches me.

This is circle that needs to be compleated. Economy rises and economy falls. Unfortunatelly for us economy can not be in high degree for ever. It need to be adjusted. Who are the first to be adjusted ? Bingo ! We don´t talk about EU we talk about specific countries. EU is a fallacy a dream of some that wanted to play to be the second EE.UU.When all goes good then we all are EU when things go bad we are just Germany or France no more EU.The people that live in this so depresed countries like me are facing in first person what a " fascism economy" is. No matter what this countries are trying to adjust, the judgment is done they have to fail at any cost.We will be paying interest to richer countries for ages if this is not enought some other countries will be next.Their hungry have no limits.
My opinion is to get out of the euro, why to be in a comunity were each country just look for themselves ? What a bullshit ! What a frame ! We were very happy with our "peseta". Short live to the euro !