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Greece crisis: investors wait on deal details
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| Contributor | Jason |
| Last Edited | Jason Apr 29, 2010 03:16am |
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| Category | General |
| Media | TV News - British Broadcasting Corporation BBC News |
| News Date | Thursday, April 29, 2010 01:35:00 PM UTC0:0 |
| Description | The euro halted its fall against the dollar on Thursday as investors wait for more details on the rescue package for the Greek economy.
The currency has recovered slightly from a one-year low hit on Wednesday amid fears that the Greek crisis could spread to other parts of the eurozone.
US President Barack Obama has added his concerns over possible contagion.
In a telephone call to German Chancellor Angela Merkel, the president called for "resolute action".
Investor confidence took yet another knock on Wednesday when rating agency Standard & Poor's downgraded Spain's debt - reflecting a loss of confidence in another eurozone country.
Following that news, the euro fell to a one-year low of below $1.312. It has since recovered to $1.323. |
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