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5 Jan 2015
EUR weakens on the back of Germany’s stance against Greece – Danske
FXStreet (Barcelona) - The Danske Bank Research Team cites ‘Der Speigel’ magazine’s report that the German government’s stance towards Greece weakened the EUR which saw below 1.19 levels today.
Key Quotes
“According to an article in Der Speigel magazine released on Sunday, German Chancellor Angela Merkel is now abandoning her previous commitment to keep Greece in the euro zone at any price. According to the article, the German government is instead preparing for a possible Greek exit in the event Syriza wins the forthcoming Greek election and presents its EU partners with unacceptable demands.”
“After the publication of the Spiegel article, comments from several German government officials have attempted to downplay the importance of the article. In an interview to be published today in Hannoversche Algemeine Zeitung, Germany’s economy minister Sigmar Gabriel says that ‘the goal of the German government is to keep Greece in the euro zone’ and ‘there are no plans to the contrary’.”
“In the FX market, EUR has weakened further on the back of the Spiegel article and EUR/USD is this morning trading at 1.1942.”
Key Quotes
“According to an article in Der Speigel magazine released on Sunday, German Chancellor Angela Merkel is now abandoning her previous commitment to keep Greece in the euro zone at any price. According to the article, the German government is instead preparing for a possible Greek exit in the event Syriza wins the forthcoming Greek election and presents its EU partners with unacceptable demands.”
“After the publication of the Spiegel article, comments from several German government officials have attempted to downplay the importance of the article. In an interview to be published today in Hannoversche Algemeine Zeitung, Germany’s economy minister Sigmar Gabriel says that ‘the goal of the German government is to keep Greece in the euro zone’ and ‘there are no plans to the contrary’.”
“In the FX market, EUR has weakened further on the back of the Spiegel article and EUR/USD is this morning trading at 1.1942.”