Euro crash test re-voices the Greek currency market

November 30th, 2011

Euro crash test re-voices the Greek currency market

Worsening debt crisis in Europe, the core euro area countries suffered the occasion of infection, the euro collapse of the voices, the foreign exchange market has already begun preparing for, the introduction of emergency measures to prevent the disintegration of the impact of the euro. Meanwhile, the foreign exchange market traders began to assume that Greece withdraw from the euro area, re-use currency drachma, foreign exchange trading system stress testing. The largest inter-bank foreign exchange broker Shang Yi has prepared a set of linked exchange electronic trading system, it may withdraw from the euro area of ??Greece, and restored using the original currency “drachmas” (drachma) to prepare for.

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ICAP’s electronic broking system (EBS) is the world’s most widely used cash trading system, the size of the global foreign exchange transactions every day around 4 trillion U.S. dollars. ICAP is not likely to withdraw from the euro zone to Greece for the 17 countries considered, we just take precautions against the return of the Greek currency drachma electronic trading system to be tested. This is a test by responding to customer concerns. If a customer expressed concern, we will look into the matter. We are just testing the system to prepare for contingencies.

From the end of 2009 debt crisis in Greece since the debt crisis in Europe has lasted two years, during which, the debt crisis is not reduced signs, but appeared to exacerbate or Italy, France and Germany and other core countries tends to spread. In this regard, the world’s leading investment banks and credit rating agencies have warned European policymakers must unite as one end of the debt crisis in Europe, whether those threats to the euro collapse. It is also, two in Europe since the debt crisis, the global investment bank with the worst credit ratings agencies to issue a warning.

Euro zone sovereign debt and banking crisis threatened to worsen the credit rating of all euro area countries. And that the euro area countries can no longer ignore the possibility of default. Part of the world’s largest banks and financial regulators are worried about the prospects for the euro area, in view of the possibility of the disintegration of the euro area, U.S., UK and Hong Kong’s financial and banking regulatory authorities have been co-examine this possibility; especially if some countries out of euro, the new issue will be how to exchange the national currency, what is the extent of the impact of the global market.

If the disintegration of the euro area, the euro will react, and from the German mark, French franc to Italian lira and other currencies were assessed value. Analyst wrote that, although the possibility of the disintegration of the euro area is not large, but it is also worth considering. Eurozone financial crisis has entered a new phase of even more dangerous, “the euro area before the collapse solution is approximately half chance, probability and the current surge. Foreign exchange settlement platform CLS Bank International also started the disintegration of the euro against the stress test.

10 developed countries, according to tracking the performance of the relevant currency weighted index, over the past three to the euro has fallen 0.7%, the other hand, the dollar rose 8.5%. At the same time, the data show the cumulative depreciation of the euro in the past one to 1.2%, while the dollar has fallen 2.4%. In addition to ICAP and CLS, there are other trading systems supplier to prepare for the pre-euro breakup. Immediately from the currency processing system to add or remove money. If a change when the euro, our currency processing system will be immediately adopted measures to deal with.

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