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- EU focus: Euro recovers from 3-week low
EU focus: Euro recovers from 3-week low
In Europe euro recovered from 3-week lows amid unconfirmed rumors that a new Greek aid package of E150bln could be agreed. Market talks a new aid includes E80bln of a new money, E40-50bn from privatizations, E30-40bn from rollover of Greek bonds.
But the euro remains under pressure relative to the yen.
But earlier rate fell on concerns how policy makers will tackle Greece's debt crisis with no apparent solution in sight.
Germany's Merkel said today there won't be a decision on Greek aid till September, but she is very optimistic about the Greek problems solution. Also she mentioned that Germany and France will do everything for saving euro.
ECB's Nowotny said there is a need to make Greece decision faster as Greece situation makes economy uncertain.
Friday’s session is likely to be dominated by any further news from talks regarding Greece and also any developments out of Athens on the political manoeuvring.
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