Arab Today, arab today euro firms before greece debt summit
Last Updated : GMT 06:24:00
Arab Today, arab today
Arab Today, arab today

Euro firms before Greece debt summit

Arab Today, arab today

Arab Today, arab today Euro firms before Greece debt summit

London - AFP

The European single currency firmed on Wednesday in cautious trading on the eve of a crucial summit where eurozone leaders will attempt to clinch a new bailout for debt-riddled Greece. In late morning London deals, the single currency climbed to $1.4181 from $1.4150 late in New York on Tuesday. Against the yen, the dollar sank to 78.82 yen from 79.21 yen. Leaders of the eurozone countries will hold an emergency summit on Thursday aimed at averting a default by Greece and preventing debt contagion in larger economies such as Italy and Spain. \"Foreign exchange markets remain sceptical about the outcome of tomorrow\'s summit,\" said Commerzbank analyst Antje Praefcke. \"Therefore, uncertainty and nervousness on the markets remain high, which in turn is reflected in volatilities and makes the euro vulnerable.\" Eurozone leaders will meet in Brussels to try to overcome divisions and complete a second rescue for Greece. German Chancellor Angela Merkel has warned that the talks may not produce a solution to the problem, which has markets worried that Athens may default on its 350-billion euro ($500 billion) debt and spark a chain reaction in Europe\'s weakest economies. \"On the backdrop of widely differing views among the parties there are doubts, shared by Merkel, whether a comprehensive and long-term solution will be found,\" said Praefcke. \"There is still the possibility that officials may yet come up with a big solution. We therefore expect to see rather directionless trade in thin markets today,\" she added. France insisted on Wednesday that the eurozone was in harmony on the eve of the summit, playing down divisions over what burden banks should bear. Germany wants the private banks that lend to Greece to agree to ease its debt burden. France insists such involvement must be voluntary so banks are not perceived to be writing off part of Greece\'s debt. Other tools available to eurozone leaders include emergency rescue funds, taxes on banks and new loan agreements structured in such a way as to avoid an effective debt default. Meanwhile, a European Central Bank (ECB) official indicated room for flexibility on conditions for a fresh bailout for Greece, raising expectations for a deal. The ECB Governing Council member Ewald Nowotny told a broadcaster that \"some proposals that deal with a very short-lived default situation... wouldn\'t really have major negative consequences,\" Dow Jones Newswires reported. The bank\'s position has previously rejected any solution that would see Athens defaulting, even for a brief period. On Wednesday, the euro changed hands at $1.4181 against $1.4150 on Tuesday, at 111.79 yen (112.11), £0.8798 (0.8771) and 1.1659 Swiss francs (1.1665). The dollar stood at 78.82 yen (79.21) and 0.8221 Swiss francs (0.8240). The pound was at $1.6118 (1.6132). On the London Bullion Market, gold prices fell to $1,587.40 an ounce from $1,601 on Tuesday, when it had struck a record peak at $1,610.10 as investors had sought a safe haven from the eurozone crisis.

arabstoday
arabstoday

GMT 21:31 2017 Wednesday ,18 October

Bahrain Bourse daily trading performance

GMT 16:08 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 04:42 2017 Saturday ,14 October

Egyptian Bourse gains EGP 2.6 bn

GMT 04:32 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 20:52 2017 Thursday ,12 October

Egyptian Bourse loses EGP 3 bn

GMT 13:12 2017 Thursday ,12 October

Bahrain Bourse daily performance
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro firms before greece debt summit Arab Today, arab today euro firms before greece debt summit

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro firms before greece debt summit Arab Today, arab today euro firms before greece debt summit

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday