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EUR/USD REVEERSING FROM UPTREND

I see the eur/usd reversing toward a downtrend. looking at the hourly chart one can see higher lows since beginning of May. some might argue that if the Greek parliament passes the austerity measured required for the baiolut funds it will continue on an upward trend. but the Europe debt crisis is not just a monetary one , it s a fiscal one. there is a disequilibrium between the north states and the periphery. for years the periphery has been using low interest rates which wereonly suitable for more stable cuontries like germany, netherlands, france. for  interest rates to be safe for a country they should factor in things like economic growth, current accounts, default rates, inflation rates e.t.c.
those factors didn't favor the periphery using such low rates of the Euro. also the fiscal systems among the europe countries aren't at par, the ECB has not done a good job of trying to bridge the different fiscal ploicies among the many europe countries. and looking at the statitstics of the greece crisis, there is no realistic way the bailouts will stop a technical default for greece. the greece prblems are fiscal in nature. tax collection is weak, economy isn't compettitive to drive up current accout, public expenditure is sohigh compared to public revenues...