Forex Flash: Greece could tap its most abundant resource, the archipelago – UBS
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EUR/USD
FXstreet.com (Barcelona) - According to an article in Le Monde, Greece could sell or lease its uninhabited islands to generate revenue. The newspaper cited Prime Minister Samaras saying that unused terrain "can be transformed into revenue-generating capital for a fair price, if it does not pose national security problems".
Proprietary solutions aside, German Chancellor Merkel served reminder that the path towards solving the Eurozone debt crisis will be "long and difficult", but added that defending the European idea is worth every effort. She urged EU leaders to set aside differences, noting "Europe is our future".
According to Research Analyst Chris Walker at UBS, "The EURUSD has a bullish focus today with resistance at 1.2595. A breach of this level would trigger further upside to 1.2664. Support lies at 1.2431.
Proprietary solutions aside, German Chancellor Merkel served reminder that the path towards solving the Eurozone debt crisis will be "long and difficult", but added that defending the European idea is worth every effort. She urged EU leaders to set aside differences, noting "Europe is our future".
According to Research Analyst Chris Walker at UBS, "The EURUSD has a bullish focus today with resistance at 1.2595. A breach of this level would trigger further upside to 1.2664. Support lies at 1.2431.
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