Calm European Day Eying Greece, Fiscal Cliff

Calm European Day Eying Greece, Fiscal Cliff

Europe is gearing up for a calm session with the lack of major data after the week the recession was confirmed and Greece remained center stage ahead of the Eurogroup meeting.

Investors are waiting for European officials decisions concerning Greece over the next trance and amid debacle with the IMF over the nation’s debt burden.

Spain is also a matter of concern after the recession extended for another quarter and with Rajoy’s reluctance to request aid.

Austerity policies did not provide any economic improvement; on the contrary these policies affected big economic countries such as Germany which start facing challenges due to the situation of euro-zone countries, considering that Germany depends on exports and more than 40% of these exports are in European markets and that bad economic situation is negatively pressuring the pay-master Germany.