After the Greece political situation get settled the pressure on Euro got averted to some level . Now international investors are looking towards the impact & outcome of the EU submit ( 28th & 29th June) . Wheather or not EU members reach to some consensus plan is to be seen by all . Greece , Spain , Portugal and Italy continued to be very fragile although the Political crisis and Banking crisis has been attended to some level . German chancellor Merkel already given a statement to give more power to the EU institution to overrule the budget of each Economy of the group for sustainable EU development. As seen in past nothing much will come out of this meet also to resolve the EU zone crisis . While European senior officials are working and discussiong how to reduce Spain & Italy borrowing cost ( high yield ) German chancelor is not in favour of any short term arrangement and solution . EURO is trading around 1.24 against USD .If the EU submit fail EURO may come down to 1.22 level and globally USD will be more stronger Globally .
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