Member of the Board of Governors of the European Central Bank's Ewald Nowotny said that Greece can get permission to continue their debt obligations to the ECB and the International Monetary Fund. In an interview with Austrian broadcaster ORF, he said: "It is expected that Greece will be able to refinance itself in the next year through the market, but now there are strong indications that this will not happen. " This information reinforced the concerns of market participants in respect of the Greek problem and the demand for higher-yielding assets decreased, which undermines the position of the single European currency. According to Mr. Novtony were another negative factor that acted as a continuation of yesterday's lowering the credit rating agency Greece, Standard & Poors.
Tuesday, May 10, 2011
Euro falls against the backdrop of an additional negative about Greece
Member of the Board of Governors of the European Central Bank's Ewald Nowotny said that Greece can get permission to continue their debt obligations to the ECB and the International Monetary Fund. In an interview with Austrian broadcaster ORF, he said: "It is expected that Greece will be able to refinance itself in the next year through the market, but now there are strong indications that this will not happen. " This information reinforced the concerns of market participants in respect of the Greek problem and the demand for higher-yielding assets decreased, which undermines the position of the single European currency. According to Mr. Novtony were another negative factor that acted as a continuation of yesterday's lowering the credit rating agency Greece, Standard & Poors.
