Concern About Greece’s Bailout Hurts Euro

The euro dropped today as the doubts arouse that Greece won’t receive the â‚¬110 billion aid package, which are supposed to be provided by the European Union governments and the International Monetary Fund.
The EU leaders are going to discuss at their meeting on May 7th the details of the bailout, which may require from Greece to cut its budget spendings. Such measures are considered too severe by the Greece’s citizens and are speculations about the possible budget cuts caused protests among Greeks.
EUR/USD dropped to 1.3234 today as of 13:27 GMT from the opening level of 1.3329.

If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

sixty five − sixty four =