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Germany softens it stance on Greece
If the contents of a WSJ article released overnight are to be believed, Germany may have relented in its push to get some form of Greek debt-restructuring through in the short term. Over recent weeks, Germany in particular has been engaged in a dispute with the ECB over this issue, with the latter warning that any form of re-profiling for Greece would potentially trigger a systemic financial crisis throughout the eurozone. The EUR has drawn some comfort from this back-down by Germany overnight, and in early London trading is just below the 1.44 level. That said, with Greece in disarray over the implementation of ... (full story)
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