Time is running out for Greece, and the euro continues to struggle as a result. The future of the eurozone is seen hanging in the balance over this, and that has some uncertain about what’s next for the euro.
Greece missed its most recent payment on its debt not too long ago, and since then European leaders have been trying to come to an agreement with Greece about the terms of a further bailout, or for restructuring of Greece’s debt.
So far, coming to an agreement has been difficult. Greek voters just rejected the austerity measures that many in Northern Europe want to see implemented as part of agreements to help Greece further with its debt. While European leaders say they are willing to listen to proposals from Greece, it is doubtful that Greek leaders will offer something that goes far enough in reforming practices.
As a result, there are some that think it would be better for Greece to exit the eurozone, either temporarily until things are under control, or permanently. If Greece has to leave the euro, though, it sets a precedent and could mean a slow end to the experiment of the shared currency in Europe.
At 12:06 GMT EUR/USD is down to 1.0939 from the open at 1.1056. EUR/GBP is down to 0.7084 from the open at 0.7085. EUR/JPY is down to 133.9950 from the open at 135.5150.
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