New Greek deal encourages investors....www.goldmoney.com/gold-research

http://www.goldmoney.com/gold-research
New Greek deal encourages investors

2011-OCT-27

“Risk” assets such as commodities and equities have rallied hard on the news that EU leaders have reached agreement on a plan to deal with Greece’s debt crisis. The euro has also risen sharply against the US dollar in response, with the Dollar Index (USDX) now back below 76. However, gold and silver prices have pulled back from the highs they reached yesterday.

The new plan for Greece calls for 50% losses on Greek government bonds held in private hands. Following adjustments to the value of government bonds they hold, large banks are also expected to maintain core “Tier 1” capital ratios of 9%. Leading banks in 13 countries have been given a deadline of June 12 next year to come up with an additional €106.4 billion of Tier 1 capital. .......

http://www.goldmoney.com/gold-research/newsdesk/new-greek-deal-encourages-investors.html

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