Euro rises against dollar as Greece calls off vote on European rescue deal

[Poll_Blind]

Source: DailyJournal.net

NEW YORK — The euro rose against the dollar Thursday after Greece's prime minister abandoned his plan to put a financial rescue deal to a public vote.

The reversal helped allay concerns that Greece could delay or reject a European plan aimed at containing that region's debt crisis. European leaders agreed on the plan last week. A rejection could lead Greece to default on its debt, which would roil financial markets.

The euro rose to $1.3834 late Thursday from $1.3765 Wednesday. Earlier in the day, the euro fell as low as $1.3655 after the European Central Bank send it would cut its main interest rate 0.25 percent to 1.25 percent.

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The euro had fallen about 2 percent against dollar since Monday, when Greek Prime Minister George Papandreou first announced the latest European deal would be put to a vote.



Read more: http://www.dailyjournal.net/view/story/54c9d86a6e064d2bb5bb67dc341af6c1/US--Dollar/

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PB

[TygrBright]

1. I don't think the Greek citizens are going to like this. n/t

[Heywood J]

2. So, it's more important to appease central bankers and financial markets

than to hear what the citizens have to say? I guess that's putting your cards on the table.

[FiveGoodMen]

3. That's surely been America's attitude for the last couple of decades

[cstanleytech]

6. The problem is the citizens might have made the wrong decision regardless

of how confident the guy sounded at first that they wouldnt.

[naaman fletcher]

4. I wonder how much he got paid to call off the vote. nt.

[Dont call me Shirley]

5. Roil the markets, please!

[Little Tich]

7. This is good news. Any delays would have been costly for all Euro countries.

Now there is a problem with the Greek people feeling cheated of their referendum. Historically, the Greeks have not been meek. One wonders if they will take this slap in their faces as true stoics or maybe riot a little instead?

[Name removed]

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