Euro is heading lower, dropping as concerns about what’s next for the eurozone rise. Worries about policy decisions in the eurozone are weighing on the 17-nation currency following a meeting between Greek Prime Minister Antonis Samaras and German Chancellor Angela Merkel.
Greek Prime Minister Antonis Samaras reportedly asked for “breathing space” for his embattled country. His comments came as he met with German Chancellor Angela Merkel about Greece’s ability to meet its austerity requirements. Greece has been asking for a little more flexibility, and for more time, in implementing austerity measures.
While Merkel said that German wanted Greece to remain in the eurozone, there were those that pointed to the comments of Volker Kauder, the head of the German Bundestag, about his feelings that a Greek exit, or “Grexit”, would be acceptable. The debate over what should happen with Greece, and by extension what will happen with other embattled countries like Spain and Italy, continues on and adds a measure of uncertainty.
Due to the uncertainty, and concerns that Greece really could exit the eurozone, as well as the fact that any policy measures are unlikely to be discussed until sometime next month, the euro is heading lower today.
At 13:41 GMT EUR/USD is down to 1.2502 from the open at 1.2565. EUR/GBP is down to 0.7899 from the open at 0.7922. EUR/JPY is down to 98.1570 from the open at 98.6200.
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