|
With the recent financial crisis in Greece, stretching through to Spain and Portugal, the question which arises is how far this Greek tragedy will put the future of the Euro in question?
With rising unemployment, incompetent bureaucratic decisions and possible corruption, Greece finds itself with a huge budget deficit. This in turn has placed an enormous strain on the rest of the Euro-nations with possible serious consequences.
Following talks earlier in the week, European finance ministers recommended that the Greek government implement immediate measures to reduce the county’s deficit. In response, Greece appears to have taken some steps to make cuts by introducing tax rises, pension reforms and freezing public sector wages. However, is this too little too late, leaving many to question “the integrity of the euro”.
With the global economy attempting to stabilise itself, investors are turning to gold as a safe haven for their assets. With the price of gold forecast to rise in the coming year and with the struggling euro still trying to find a footing in the current European market, now is the opportune time to buy gold bullion. |