The rise of the Greek default loomed this month as the country struggled to put together new austerity measures demanded by the European leaders for a second bailout. German Fiancé minister Wolfgang Schaeuble is saying that Europe is better prepared than it was two years ago for a Greek collapse
It is likely that Eurozone finance ministers will officially have completeed the 2nd Greek rescue package tomorrow, but will this be enough?
The dollar fell against most of its major peers before a report forecast to show US manufacturing index rose for a 4th month.
Monti has said that Europe’s debt crisis has eased since the ECB started pumping unlimited amounts of 3- year cash into the bank in December, while Angela Merkel has expressed reluctance to discuss increasing the size of Europe’s bailout fund.
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