The Dilapidated Economy
Europe has been going through the most tumultuous phase of its economy in its entire history since 2008. The Great Recession that started in the last month of 2007 left almost all large economies literally struggling with sustaining the economy. The hardest hit was probably the European economy where a number of countries entered a debt crisis being unable to keep a balance between income and expenditure. After much discussions and considerations a way was figured out to provide the debt stricken countries a bailout plan. Just at the moment when everyone was thinking that the worst days in European economy could be over, dismal news about the economy came out that has once again set the stage for another part of the crisis.
The News that is Creating Stir
Many were opining that the worst days for Europe were over and that the European economy had already started to recover. But, on the contrary the latest announcement from one of the topmost officials in a European economic authority has opined that the economy in the continent is likely to contract for the second consecutive year. Moreover, he has also opined that Spain and France would probably miss their respective fiscal targets thus adding more instability to Euro. This is going to affect the unemployment rate directly and therefore will make the economic situation even worse. It is thought that the economy in Europe is likely to contract at the rate of 0.3 percent. This is also likely to affect the economies outside Europe.
Not a Good News for Binary Traders
Binary traders thought that the market would recover soon but in the current scenario it can be said that there is no chance of recovery in near future if the best anticipations come true. It is a particularly painful situation for binary traders who wanted to make some profits out of the recovering economy. Though it is too early to arrive at any firm conclusion this much can be said that binary traders have to fight with the uncertainties of the market for quite some time.
As the twists in the economic situation are far from being resolved, it can be said that binary traders have to be extra careful about their business. A single error in decision at this point of time can severely harm the business, and therefore traders should avoid speculations and rumors at any cost.