Greece Talks Fail
After 11 hours of talks, European ministers left talks in Brussels yesterday with still no clear decision regarding Greece's debt relief. Creditors in Germany are refusing to offer debt relief and so ministers struggled to gather enough funds to help alleviate the matter.
The Euro declined against 13 of its 16 counterparts following the talks. Ministers are scheduled to meet again on November 26th. The failure of these talks continues to add concern and downward pressure on the Euro. The Euro dropped 0.4% after strengthening 0.6% the previous two days.
The talks did however have a positive effect on the pound, with the British currency outperforming the Euro.
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