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Europe Braces Itself for Grexit Chaos
As European leaders meet later on Tuesday, for yet another summit, to discuss Greece, currency traders are wondering how to react. So far things have been relatively calm. The euro had drifted down to $1.0969 on Monday, but had risen to $1.1025 on Tuesday. Stock markets too were relatively steady, given the political turmoil in Europe. “The market reaction has been quite muted so far,” Nick Stamenkovic a macro stratetegist at securities broker RIA Capital Markets in Scotland told Handelsblatt Global Edition. “We are not in the same position as 2011 and 2012. The European Central Bank has firewalls in place, and ... (full story)
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