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Forex: Monday's review
Finland’s Justice Ministry said support for the True Finns, whose leader Timo Soini says taxpayers shouldn’t have helped rescue Greece or Ireland, jumped to 19 percent in elections yesterday. A permanent bailout fund for indebted euro-area nations requires approval from all 17 members of the bloc.
Greece may not be able to avoid restructuring its debt before summer’s end, said Otto Fricke, the parliamentary budget spokesman for Chancellor Angela Merkel’s Free Democratic Party coalition partner.
The statement was supported by European Union spokeswoman Chantal Hughes who told reporters in Brussels today that “restructuring is not an option that’s on the table.”
Later Greek official said restructuring is a matter of time. Greece ultimately will not be able to avoid restructuring its sovereign debt, an unnamed Greek government minister told the German daily Die Welt in an interview to be published Tuesday.
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