The euro declined today before results of talks between Greece and its creditors will be revealed. Traders are nervous as the outcome of the discussions is uncertain and they thought that keeping the euro is too risky.
The talks regarding a proposed debt “haircut” for Greece have become too long, indicating that an agreement is hard to achieve. It looks like the main problem remains the same — unwillingness (or inability) of Greece to accept austerity measures that the European Union, the International Monetary Fund and the European Central Bank demand from the country. Jean-Claude Juncker, Prime Minister of Luxembourg, said that Greece may be declared bankrupt in case an agreement wouldn’t be achieved.
EUR/USD fell from 1.3114 to 1.3043 and EUR/JPY slipped from 100.46 to 99.92 as of 10:59 GMT today.
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