Daily Forex Commentary for 030309

March 3, 2009

European Union Says No to Financial Aid

With most of the world focusing on the news about AIG and HSBC, another bearish story slipped through the media cracks. On Sunday European Union leaders rejected the pleas of poorer performing members for financial aid. The proposed aid request was designed to shore up banks on the verge of default and to stabilize the region. Most of all, the European Union blew a chance to show the world that it is indeed unified. By passing on the chance to help struggling …
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