Euro Down

Euro could depreciate months because of rumors that Greece wants to give up to Euro 

The euro could depress stressed Monday, following rumors that Greece has raised the possibility of leaving the euro area at a meeting of several eurozone finance ministers, according to estimates of analysts polled by The Guardian.

"The response of investors will probably be selling the euro. I think that the euro would be at parity with the dollar, not 1.44 dollars per unit. Do not know how he reached this level," said Jonathan Loynes, analyst at Capital Economics.

The European press wrote Friday that the Greek government raised output in the euro area in a meeting of finance ministers of the greatest economists of monetary union.

Officials have denied the euro area countries, initially, that such a meeting takes place, but later admitted that finance ministers from Germany, France and Italy discuss, in a castle in Luxembourg, the Greek counterpart George Papaconstantinou on problem solving Greek debt.

Information in the press were, however, denied by Athens.

"The meeting did not discuss output Greece in the euro area, as some sources indicate the average of its own interests," said Papaconstantinou.

Germany has also denied that they were waiving the Greek Mailing linked to the euro.

Analysts however shows that the euro area financial crises have been repeated denials, followed by a reversal of the situation 180 degrees.

"Sounds like a bit of a football club chairman who said" We rely 100% on the coach. "That usually says before the sack," said Erik Britton, an analyst at Fathom.

Eurogroup head Jean-Claude Juncker, in turn denied that Greece wanted to give the euro area, but said that the agenda of the Monetary Union finance ministers on May 16 will feature the adjustment program for Athens.

Last year Greece received an external envelope of 110 billion which has avoided entering into default, but investors are increasingly convinced that the state will not be able to honor its obligations, given the severe downturn in the economy going.

Debt restructuring could mean an extension of maturity of some loans or more drastic measures such as forcing investors to accept the reduction of the bond.

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