228 lines
5.1 KiB
Plaintext
Executable File
228 lines
5.1 KiB
Plaintext
Executable File
finance
|
|
financialcrisis
|
|
8214488
|
|
-----
|
|
# Euro falls amid continuing debt crisis fears
|
|
|
|
## The euro declined as fears about the region's sovereign debt crisis
|
|
continued to weigh on the single currency.
|
|
|
|
![Euro falls amid continuing debt crisis fears][1]
|
|
|
|
The euro sign outside the European Central Bank headquarters in Frankfurt.
|
|
Photo: BLOOMBERG
|
|
|
|
3:14PM GMT 20 Dec 2010
|
|
|
|
[Comments][2]
|
|
|
|
The euro dropped to a two-week low against the dollar after the European
|
|
Central Bank warned it had "serious concerns" about the **[laws governing
|
|
Ireland's bail-out][3]** of its banking system.
|
|
|
|
The comments followed credit rating agency Moody's decision to slash Ireland's
|
|
credit rating last week.
|
|
|
|
Investors also turned to German government bonds as a safe haven, sending the
|
|
price up and the yield below 3pc for the second day in a row. The gap between
|
|
the yield on German government bonds and their Irish and Portuguese
|
|
equivalents widened.
|
|
|
|
The euro was down 0.2pc to $1.3158 in lunchtime trading, after falling as low
|
|
as $1.3125.
|
|
|
|
The yield on 10-year German government bonds was 3pc, compared with 8.65pc on
|
|
Ireland's 10-year bonds.
|
|
|
|
## Related Articles
|
|
|
|
* [Allied Irish Banks moves 7.9bn loans to 'bad bank'][4]
|
|
|
|
20 Dec 2010
|
|
|
|
* ['Untenable policies will lead to euro break-up'][5]
|
|
|
|
20 Dec 2010
|
|
|
|
* [ECB raises concerns about rights to Irish bank collateral][6]
|
|
|
|
20 Dec 2010
|
|
|
|
* [Euro rises as China supports EU debt action][7]
|
|
|
|
21 Dec 2010
|
|
|
|
* [Self-righteous Germany must accept a euro-debt union or leave EMU][8]
|
|
|
|
19 Dec 2010
|
|
|
|
* [Irish downgrade hits world markets][9]
|
|
|
|
17 Dec 2010
|
|
|
|
The cost of insuring French government debt rose to a record, as some traders
|
|
speculated the country could be at risk of losing its AAA credit rating.
|
|
|
|
A string of neagtive announcements from the ratings agencies about various
|
|
eurozone countries' debt levels have added to the pressure caused by the bail-
|
|
outs of Greece and Ireland.
|
|
|
|
Moody's also said last week it may downgrade Spain's credit rating again.
|
|
|
|
However the Organisation for Economic Cooperation and Development (OECD) said
|
|
today that Spain will meet its deficit reduction goal next year, even if
|
|
growth does not meet the 1.3pc target set by the government.
|
|
|
|
The OECD also said it doesn't believe that government support for the
|
|
country's banks would put the Spain's solvency at risk.
|
|
|
|
[X][10] Share & bookmark
|
|
|
|
Delicious Facebook Google Messenger Reddit Twitter
|
|
|
|
Digg Fark LinkedIn Google Buzz StumbleUpon Y! Buzz
|
|
|
|
[What are these?][11]
|
|
|
|
* Share: [Share][10] [ ][12] [ ][13]
|
|
|
|
[Tweet][14]
|
|
|
|
http://www.telegraph.co.uk/finance/financialcrisis/8214488/Euro-falls-amid-
|
|
continuing-debt-crisis-fears.html
|
|
|
|
Telegraph
|
|
|
|
## [Financial Crisis][15]
|
|
|
|
* ### [Europe »][16]
|
|
|
|
* ### [Ireland »][17]
|
|
|
|
* ### [Finance »][18]
|
|
|
|
* ### [Economics »][19]
|
|
|
|
* ### [Business Latest News »][20]
|
|
|
|
In finance
|
|
|
|
[![Truncheon-wielding police in Barcelona have clashed with protesters at a
|
|
makeshift camp that is one of dozens erected in Spain to protest at high
|
|
unemployment][21] ][22]
|
|
|
|
### [Spanish anti-crisis protests][22]
|
|
|
|
[![Thousands of protesters occupy Puerta del Sol square in Madrid][23] ][24]
|
|
|
|
### [Huge protests in Madrid][24]
|
|
|
|
[![Riot police use tear gas as protesters throw petrol bombs in Athens][25]
|
|
][26]
|
|
|
|
### [Tear gas and petrol bombs][26]
|
|
|
|
[![Irish bank stress tests: the key points][27] ][28]
|
|
|
|
### [Irish bank stress tests: key points][28]
|
|
|
|
[![Q&A: What is the Independent Commission on Banking?][29] ][30]
|
|
|
|
### [Q&A: What is the Independent Commission on Banking?][30]
|
|
|
|
[X][10] Share & bookmark
|
|
|
|
Delicious Facebook Google Messenger Reddit Twitter
|
|
|
|
Digg Fark LinkedIn Google Buzz StumbleUpon Y! Buzz
|
|
|
|
[What are these?][11]
|
|
|
|
Share:
|
|
|
|
* [ ][10]
|
|
|
|
* [ ][12]
|
|
|
|
* [ ][13]
|
|
|
|
* [Tweet][14]
|
|
|
|
* Advertisement
|
|
|
|
![][31]
|
|
|
|
telegraphuk
|
|
|
|
Please enable JavaScript to view the [comments powered by Disqus.][32] [blog
|
|
comments powered by Disqus][33]
|
|
|
|
[![][34]][35]
|
|
|
|
Advertisement
|
|
|
|
[Market Data »][36]
|
|
|
|
sponsored features
|
|
|
|
Loading
|
|
|
|
Finance Most Viewed
|
|
|
|
* TODAY
|
|
|
|
* PAST WEEK
|
|
|
|
* PAST MONTH
|
|
|
|
1. [Britain faces bleak two years after feeble economic growth][37]
|
|
|
|
2. [Look, even Sweden charges for healthcare][38]
|
|
|
|
3. [BMW blames speculators as aluminium costs rise][39]
|
|
|
|
4. [US consumers in spending retreat][40]
|
|
|
|
5. [Google sued by PayPal in Silicon Valley's mobile war][41]
|
|
|
|
1. [What happens when Greece defaults][42]
|
|
|
|
2. [Dominique Strauss-Kahn: DNA samples confirm sperm traces on maid's
|
|
dress][43]
|
|
|
|
3. [It's ever more obvious, Greece must leave the euro][44]
|
|
|
|
4. [Dominique Strauss-Kahn: new claims of sexual misconduct add to pressure
|
|
on former IMF chief][45]
|
|
|
|
5. [How the euro crisis end game might look][46]
|
|
|
|
1. [What happens when Greece defaults][42]
|
|
|
|
2. [Dominique Strauss-Kahn: IMF head 'hired prostitutes from Manhattan
|
|
madam'][47]
|
|
|
|
3. [Dominique Strauss-Kahn: DNA samples confirm sperm traces on maid's
|
|
dress][43]
|
|
|
|
4. [A tax-based alternative to the Alternative Vote][48]
|
|
|
|
5. [Dominique Strauss-Kahn: maid experienced 'extraordinary trauma'][49]
|
|
|
|
Advertisement
|
|
|
|
Classified Advertising
|
|
|
|
* [Services][50]
|
|
|
|
* [Fine Arts][51]
|
|
|
|
* [Sales Jobs][52]
|
|
|
|
Loading
|
|
|
|
[Find your ideal job with Telegraph Jobs][53]
|
|
|
|
var puffs_8120648 = new Array();
|
|
|