Greek Finance Minister Evangelos Venizelos suggested that agreement on measures to resolve the European debt crisis at the coming European Union summit is “attainable”. These words boosted the euro. The Ewald Nowotny, one of the governors of the European Central Bank, signaled that the Europe’s central bank may accept Greek bonds as collateral. He said in the interview to CNBC:
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Source:
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At the end of the day it has to be the decision of the ECB. The ECB should not be totally dependent on rating agencies. It is our own responsibility, our own decision. We have proved this in the case of Ireland, Greece and Portugal, with regard to what kind of collateral we accept.
EUR/USD jumped from 1.4112 to 1.4209 today as of 9:14 GMT after it dropped to 1.4067 earlier. EUR/JPY advanced from 111.54 to 112.24.
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Source:
http://www.forexforexmarkettrading.com/2011/07/is-agreement-among-european-leaders.html
