The euro is becoming a haven for investors who just three years ago pushed the 17-nation currency union close to breakup.
Showing posts with label sovereign-debt crisis. Show all posts
Showing posts with label sovereign-debt crisis. Show all posts
September 08, 2013
July 08, 2011
Iceland's Euro Bid Hinges On Greek Crisis Outcome, Central Banker Says
AIX-EN-PROVENCE, France -(Dow Jones)- Policymakers in Reykjavik are closely watching the unfolding of the Greek debt crisis, for its outcome will be a key element of Iceland's decision to join the euro, the head of the country's central bank, Sedlabanki said, as he urged the currency bloc to improve its economic governance.
"The outcome of the Greek crisis will affect the attractiveness of being a member of the euro area," Mar Gudmundsson told Dow Jones Newswires in an interview here late Friday. "A monetary union needs much more economic integration, some elements of common economic and fiscal policy and a common financial stability framework. One needs to match an economic union with the monetary union for it to work," he added.
"The outcome of the Greek crisis will affect the attractiveness of being a member of the euro area," Mar Gudmundsson told Dow Jones Newswires in an interview here late Friday. "A monetary union needs much more economic integration, some elements of common economic and fiscal policy and a common financial stability framework. One needs to match an economic union with the monetary union for it to work," he added.
May 22, 2011
Euro Drops to Lowest Level in Seven Weeks Against Dollar Amid Greek Crisis
The euro dropped to a seven-week low versus the dollar as Greece moved closer to defaulting on its obligations, bolstering concern the region’s sovereign-debt crisis is worsening.
The yen reached its strongest level versus the euro since the Group of Seven nations intervened in March to curb its gains after a record earthquake. Greece’s debt rating was cut by Fitch Ratings. Spanish voters may defeat Prime Minister Jose Luis Rodriguez Zapatero’s Socialists, who have cut spending to fight the debt crisis, in regional elections Sunday, polls show.
The yen reached its strongest level versus the euro since the Group of Seven nations intervened in March to curb its gains after a record earthquake. Greece’s debt rating was cut by Fitch Ratings. Spanish voters may defeat Prime Minister Jose Luis Rodriguez Zapatero’s Socialists, who have cut spending to fight the debt crisis, in regional elections Sunday, polls show.
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