Neuro
18th June 2011, 05:42 AM
Euro Strengthens After Germany’s Merkel Agrees to a Greek Debt Compromise
By Catarina Saraiva and Garth Theunissen - Jun 18, 2011 12:15 AM GMT+0300
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June 17 (Bloomberg) -- Axel Merk, president and chief investment officer at Merk Investments LLC, talks about the euro and U.S. dollar, the Greek debt crisis,
June 17 (Bloomberg) -- Arnab Das, managing director of market research at Roubini Global Economics, talks about today's meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy on the Greek debt crisis. Das speaks with Deirdre Bolton on Bloomberg Television's "InsideTrack." (Source: Bloomberg)
The euro gained versus the dollar by the most in two weeks after German Chancellor Angela Merkel agreed to compromise and work with the European Central Bank on a debt plan for Greece.
The shared currency strengthened against a majority of its 16 most-traded peers after Merkel retreated from German demands that bondholders be forced to shoulder a “substantial” share of a Greek rescue, easing concern the region’s sovereign debt problems will worsen. The euro pared its gains after Moody’s Investors Service said Italy’s bond rating may be cut. Currencies link to risk advanced as stocks gained, while the dollar dropped on concern the economic recovery is faltering.
By Catarina Saraiva and Garth Theunissen - Jun 18, 2011 12:15 AM GMT+0300
inShare
2More Print Email
*
Play Video
June 17 (Bloomberg) -- Axel Merk, president and chief investment officer at Merk Investments LLC, talks about the euro and U.S. dollar, the Greek debt crisis,
June 17 (Bloomberg) -- Arnab Das, managing director of market research at Roubini Global Economics, talks about today's meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy on the Greek debt crisis. Das speaks with Deirdre Bolton on Bloomberg Television's "InsideTrack." (Source: Bloomberg)
The euro gained versus the dollar by the most in two weeks after German Chancellor Angela Merkel agreed to compromise and work with the European Central Bank on a debt plan for Greece.
The shared currency strengthened against a majority of its 16 most-traded peers after Merkel retreated from German demands that bondholders be forced to shoulder a “substantial” share of a Greek rescue, easing concern the region’s sovereign debt problems will worsen. The euro pared its gains after Moody’s Investors Service said Italy’s bond rating may be cut. Currencies link to risk advanced as stocks gained, while the dollar dropped on concern the economic recovery is faltering.