Joined Nov 11, 2007
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The Euro Weakens Overnight

“The euro snapped four days of gains against the dollar after the European Central Bank’s plan to buy government bonds was said to be held up until Germany’s ruling on Europe’s permanent bailout fund.

Chancellor Angela Merkel said Germany and France will keep pressure on Greece to overhaul its economy when she meets Prime Minister Antonis Samaras, who is seeking more time to fix his debt-ravaged country. ECB President Mario Draghi may wait until Germany’s Constitutional Court rules on the legality of Europe’s fund on Sept. 12 before unveiling full details of his plan to buy government bonds, two central bank officials said. The report undermined speculation that Draghi would announce new measures at his Sept. 6 press conference.”

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