About This Content - The views expressed here regarding market and economic trends are those of Investment Professionals, and are subject to change at any time. These views should not be relied upon as investment advice, as securities recommendations, or as an indication of trading intent on behalf of Pioneer. There is no guarantee that these trends will continue.
This material is not intended to replace the advice of a qualified attorney, tax advisor, investment professional or insurance agent. Before making any financial commitment regarding any issue discussed here, consult with the appropriate professional advisor.
The prospect of Greece leaving the European Monetary Union seems avoided for the time being. However, escaping the worst-case scenario does not solve all of the underlying problems.
The situation in Greece remains difficult and we cannot discount the fact that Greece will need to renegotiate the bailout conditions or even negotiate a new bailout. With ?11 billion of spending cuts required and a severe recession underway (GDP at -6.9% in 2011), Greece will need to find a way out of this negative spiral.
How do we expect the euro crisis to evolve?