Jul
22
Euro’s Resilience During Greece Debt Crisis Belies Damage Done
ByThe euro may have avoided the indignity of losing a member, yet the wrangling over Greece has delivered lasting damage to its image in the eyes of investors.
Millennium Global Investments Ltd. and M&G Investments Inc., which manage a combined $413 billion, say the political brinkmanship leading up to last week’s bailout deal exposed the euro zone’s weakness: the lack of a fiscal union. Commerzbank AG, Germany’s No. 2 lender, warns the ongoing crisis will erode demand for the euro as a reserve currency, which reached a 13-year low in March…
Euro’s Resilience During Greece Debt Crisis Belies Damage Done
