Stock gains trimmed after Moody’s cuts Greek government bonds to junk status
TORONTO – The Toronto stock market maintained a positive stance mid-afternoon Monday thanks to better-than-expected European economic data but the TSX was well off early highs after Moody’s Investor Services cut its rating on Greek government bonds to junk status.
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www.globalchange.com Euro crisis in Greece. Monetary union constraints in high inflation or deflation. Role of European Central Bank in balancing needs of high growth and low growth economies. Contrasts between Ireland, Greece, Portugal, Spain, Germany, France, Italy and countries which more recently joined. Loss of sovereignty to Brussels. Political issues in controlling budget deficits or imposing budget cuts on an unwilling nation. Political unrest and threat of strikes or instability. Challenges for the future. Comment by Futurist conference keynote speaker and author Patrick Dixon at London Stock Exchange UK Trade and Investment – Nordic Business Awards. European Union trends.