The euro drop in value European Union in panic on financial problems

May 11, 2011 - PRLog -- The euro drop in value European Union in panic on financial problems
European Union faces a big challenge on Greek calls for new financial aid  as Athens' "catastrophic" finances returned to haunt stressed eurozone states, despite efforts to prevent panic.
 The Greek debt panic comes after $78 billion euros aid package was agreed with Portugal and from a 67 billion euros international rescue for Ireland.

 The Greek public deficit for 2010 was recently revised upwards, from 9.4 percent of gross domestic product to 10.5 percent.

The euro is back on a declining.
On Wednesday  May 11 in the New York trading, the euro traded as low as $1.4196 a  big retreating from a 17-month peak of $1.49404 on May 04, 2010. With losses for the week, the euro has its worst week against the dollar since January.

The U.S., dollar  got a boost from data showing U.S. employers added 244,000 jobs well above what economists had expected.  Jobs have increased the dollar's appeal against the yen and other currencies.
 
Gold, Oil, natural gas, copper and all  other commodities are priced in dollars, a weaker dollar makes them more attractive to buyers worldwide. This is now evident in the rising prices of oil, gold, copper and other commodities.

U.S made products in all sectors will be more attractive in the world's markets. U.S companies will export more and import less especially from  European countries. High costs of  European products will have no chance to compete with Chinese, American and Indian products and this will be a disaster for the economy.

The E.U Job markets will always fallow the largest exporters and low labor costs, last taxes and regulations. Albanian Minerals President in New York Sahit Muja said "The euro needs to drop in the value of 1 euro = 1 dollar".

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Albanian Minerals is Metal Mining and trading Company one of fastest growing mineral company in Europe