Sunday, November 6, 2011

GREEK DRAMA ALMOST OVER, MARKETS TO MOVE UP.


Greek prime minister winning the crucial confidence vote and his decision to step down from the post is the best possible thing to have happened in the euro zone. Whether Papandreou is going to be re elected or some one will be at the helm of affairs is of lesser significance, since coalition partners and opposition parties have broadly agreed on the euro zone proposals to save the country from being defaulted and bankruptcy. This is positive news for the world economy in general and in particular for the countries in Europe.

U S too wants growth momentum to pick up steam in euro zone and ready to help the troubled countries to the maximum extent. As a lender of last resort IMF too may step in to defuse the situation.

In spite of global turmoil India growth story remains in tact. The weak global sentiments are deterring the FIIs to take a definitive call on our markets. The positive developments in Greek are sentiment boaster for global markets. Markets in Asia are expected to move up this week.

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