Greek Deja Vu All Over Again

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Monday, February 13, 2012 Greek Deja Vu All Over Again Greece needs money by next month. The troika makes demands it has to meet. Greek leaders resist and make some bold moves, fearing the domestic backlash to austerity. EU leaders bear down on their demands, and Greece grudgingly laments. Sound familiar? If the fallout from former PM George Papandreou's referendum proposal in November is any indication, then this is the exact series of events we're seeing playing out in Greece right now. And in fact, changes in the price of the euro versus the dollar would suggest that the Greek budget drama really is just a repeat of what we saw a few months ago—eerily so in fact. A few months ago, the euro gained steadily against the dollar after a crucial EU summit, but tanked sharply after Papandreou announced that Greece would hold a referendum on unpopular austerity measures. Papandreou finally gave into European demands, withdrew the referendum proposal, and said he would step down as prime minister, but it took a long time for the euro to recover after that. While there are many reasons the euro might have been on the rise since early January, is that rally about to come to a close? See the striking similarities between September-November (red) and December to now (green).  Read » Also On Money Game Today: AND NOW: There Are Fresh Headlines About ECB Involvement In Greek Debt Restructuring Here Are The 7 Equations That Explain Everything The Most Overpriced Housing Markets In The Developed World JP MORGAN: Chinese Mortgage Rates May Be Lower Than You Think Advertisement CHART OF THE DAY: The Roubini Stock Market Indicator CHART OF THE DAY: Why The Unemployment Rate Is Going A LOT Lower CHART OF THE DAY: This Is Why The US Doesn't Care About Europe Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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