The steps back to normalcy in Greece have had a short-term impact on southern Europe. With yields falling today on Portuguese, Spanish and Italian government bonds, questions remain as to whether this is just the calm before the storm and what will ultimately happen to the euro.Greek banks reopened today for the first time in three weeks. This occurred after a €7 billion financial bridge was approved last week by EU finance ministers that will allow Greece to avoid defaulting on a bond payment and clean up arrears with the International Monetary Fund. Additionally, austerity measures are in place, which have increased the value-added tax (VAT) on many items that will impact agriculture. The VAT rose from 13 percent to 23 percent on meat, ve...

TAGS – Farm Inputs, Softs