The time is running out for the Euro Zone

By @ibtimes on

The market has opened with a downside gap after the British Finance Minister, Mr. George Osborne, announced that the European Zone is already in a hitch phase as the debt crisis reached to the most level and the time is running out for the Euro zone, damping the demand for higher yield currencies and supporting the demand for the safe haven.

Moreover, the euro dropped against the dollar and yen for a second day after European officials failed to offer a plan to halt the region's debt crisis as Greece's ability to avoid default hangs in the balance.

On the other hand, the Greece reported that it is ready for additional austerity plans, but it's unclear if they will move to approve them, approving them will trigger serious civil unrest.

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