An apparent stalemate has developed during an emergency meeting of Eurozone finance ministers on how to proceed with a rescue package for Greece. The growing uncertainty has pushed the euro lower in early morning trading in New York with the euro declining 1.1 percent to $1.4276.
Ã¢â‚¬Å“We are no closer to solving the crises,Ã¢â‚¬Â Gary Jenkins, head of credit strategy at Evolution Securities Ltd. in London, wrote in a report today. Ã¢â‚¬Å“It may well be that ultimately the only real option is some kind of fiscal union as that would buy the peripheral countries time and may act as a firebreak against contagion from the Greek situation.Ã¢â‚¬Â
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