Euro Drops as Nations Argue Against Debt-Reduction Measures

The euro fell against most of 16 major currencies today as some nations criticized the plans for battling the debt issues, causing concerns that the sovereign-debt problems won’t be resolved soon.

Greece criticized demands of the European Union and International Monetary Fund to sell state assets in order to raise €50 billion by 2015 for paying debts. The nation also joined Italy in arguing against annual debt-reduction targets. Ireland’s largest opposition party said that it wants to renegotiate details of the country’s aid package.

EUR/USD traded near 1.3453 as of 12:04 GMT after opening at 1.3516 and reaching its intraday high of 1.3558.

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