Formally established in 1993, the eurozone, often referred to as the “European Union,” is a political and economic union established after the ratification of the Maastricht Treaty by members of the European Community. It has since expanded to include some Central and Eastern European nations. The establishment of the eurozone provided for the creation of a central European bank and the adoption of a common currency: the euro. The idea behind the eurozone is to create a single geographical market where goods, services, and money can be exchanged freely.
Billionaire Wilbur Ross believes there is a high probability Greece will exit the eurozone, which could send the nation into economic collapse and prompt a stock market crash.During an interview on Tuesday, July 7th, the distressed asset investor told CNBC he believes there is a 40% chance Greece will leave the eurozone. (Source: CNBC,. Read More
Strong Economic Data Points to Growth in 2015?As 2014 winds down, many investors are wondering what the economic outlook for 2015 will be. If you look at the U.S. economic data that’s been trickling in, 2015 looks like it could be a very strong year.The U.S. announced strong third-quarter gross domestic product (GDP) growth of 3.9%.. Read More
Will the U.S. Stock Market Crash in 2015?With the broader U.S. stock markets trading near record highs, it’s not a big surprise to hear that most analysts, economists, and investors are increasingly bullish about the stock market. The last thing you’d expect to hear is someone talking about a stock market crash in 2015.And why would. Read More
Wall Street opened flat on Tuesday, July 7th, as talks between Greece and its creditors resumed. The U.S. trade deficit widened in May, reflecting concerns over weak global demand.European stocks continue to slide while the euro hit a five-week low against the dollar. In China, the stock market fell again despite the emergency measures. Read More
On Sunday July 5th, Greece’s referendum went in favor of Prime Minister Alexis Tsipras, prolonging market uncertainty and stoking fears of an economic collapse in the Mediterranean region.With most ballots counted, 61% of the country overwhelmingly voted against an austerity program from the European Union and the International. Read More