Marc Chandler tells King World News:
"The euro is struggling around the 1.28 level, and I’m looking for the euro to head to the 1.22 - 1.23 area by the end of the year. The US is going to resolve the fiscal cliff, which means the focus will shift right back to the euro when Spain asks for aid.
"I would also add that the issue which had died down in Europe, but is now resurfacing, is a Greek exit. Imagine if Greece would drop out what would happen. If there is in fact a regime change in Syria, that would greatly hamper the Russian influence in the Middle-East.
"So if Greece leaves the euro or is kicked out, they would have to turn to Russsia for assistance. Greece is unimportant economically, but geo-strategically it is key because it is a valve in and out of Europe. So when we think of the ongoing European crisis, keep in mind Greece’s geo-strategic importance. ..."