1 / 2

Greek Prime Minister Backs Down on Referendum says

(1888PressRelease) Papandreou strikes a deal with coalition government.

donaldhood
Download Presentation

Greek Prime Minister Backs Down on Referendum says

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Greek Prime Minister Backs Down on Referendum says Pan American Metals of Miami (1888PressRelease) Papandreou strikes a deal with coalition government. MIAMI, FL, All eyes will be focused on Athens today as the drama with Greek Prime Minister George Papandreou plays out. However, it does look as if the referendum is not too likely to happen after all, which probably spells relief for the precious metals market. Apparently, Mr Papandreou has struck a deal, agreeing to stand down in favor of a coalition government if ministers help him win a confidence vote. Reportedly, following a meeting with Angela Merkel and Nicolas Sarkozy in Cannes, Mr Papandreou admitted that calling for the referendum had been a mistake. No doubt all will be revealed later Friday. Meanwhile, the ECB announced a 25 point cut in its base interest rate, which further supported gold's recovery.Gold bullion is now holding firm around $1760 with many analysts predicting $1800 an ounce within the next month. A worsening situation in Europe could go either way as far as the price of gold is concerned; on the one hand, it could drive investors to find a safe haven; on the other hand, speculators and traders might find themselves selling off gold to cover losses elsewhere. It remains to be seen which way the dice will fall but, in the long term, the ongoing fiasco in Europe will likely drive safe-haven investment buying as people lose faith in fiat currencies. "Investors and traders are rapidly losing patience with the European debacle," says Bill Hionas of Pan American Metals of Miami. "

  2. Gold futures rose to a six-week high yesterday, following news of the ECB rate cut. About us: Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors. Website: http://www.panamericanmetalsofmiami.com Press Contact Debbie Bailey Executive Administrator Pan American Metals of Miami, LLC Email: dbailey ( @ ) investpanam dot com Website: http://www.panamericanmetalsofmiami.com Source: http://www.1888pressrelease.com/greek-prime-minister-backs-down-on-referendum-says-pan-ameri-pr-347941.html

More Related