Hopes that the European Commission will soon give its approval of Greek budget plans today may be helping the euro rally back above the $1.40 mark in early A.M. U.S. trading.
WSJ: Hopes that Athens will now reduce its deficit and avoid default on its foreign debt have helped to stabilize the spread on the country’s five-year sovereign credit-default swaps, a type of default insurance, and slightly narrowed the yield spread between its 10-year bonds and those of Germany.
Join the conversation about this story »
See Also:
- €40 Billion In Hidden Greek Debt Discovered, CDS On Fire
- Forget Greece, The Entire Eurozone Is Bloated With Debt And Borrowing Nearly $200 Billion Per Month
- Greece Now In Complete Denial: Claims There’s No Debt Problem, Blames Speculators For Strangling The Economy