Greek worries hit euro, world stocks flat
Thursday, 7 January 2010
LONDON, Jan 6 (Reuters): The euro took a brief battering Wednesday on worries the European Union would not rescue fiscally struggling Greece while global stocks ticked over with investors eyeing major US data due later in the week.
European Central Bank (ECB) officials were due to arrive in Athens later in the day to discuss Greece's financial difficulties, but foreign exchange markets were stirred up by a media report quoting ECB executive board member Juergen Stark as saying Greece would not be bailed out.
He was reported as saying markets were "deluding themselves" if they thought member states would "put their hands in their wallets to save Greece."
European Central Bank (ECB) officials were due to arrive in Athens later in the day to discuss Greece's financial difficulties, but foreign exchange markets were stirred up by a media report quoting ECB executive board member Juergen Stark as saying Greece would not be bailed out.
He was reported as saying markets were "deluding themselves" if they thought member states would "put their hands in their wallets to save Greece."