The euro continues its decline on concern that the rescue package, provided to Greece by the European Union government and which is valued as much as 45 billion euro, won’t be enough to deal with the nation’s debt.
The Greeceâs budget shortfall is 12.9 percent of gross domestic product, which is four times the EU limit. The cost of insuring against the default on Greece’s debt increased today. At present time it looks like the bailout plan wasn’t been able to assuage the
The concern about the threat of the budget shortfall may spread across the
EUR/USD dropped to 1.3382 today as of 16:00 GMT down from its opening level of 1.3433. EUR/JPY fell to about 124.77 after it opened at 125.21. EUR/GBP traded near 0.8689.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.