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Treasuries Pare Losses on Speculation Greece May Drop From European Union
By Susanne Walker - May 6, 2011 6:35 PM GMT+0200 Fri May 06 16:35:06 GMT 2011
“One concern is what would happen to euro banks that own the debt, and is it going to be marked down further, creating more of an economic issue,” said Thomas Roth, senior Treasury trader in New York at Mitsubishi UFJ Securities USA Inc.
The euro extended its losses after Der Spiegel magazine reported that debt-strapped Greece is considering withdrawing from the euro zone and reintroducing its own currency, and that the European Commission called a meeting to discuss the move. A spokesman for Luxembourg’s Jean-Claude Juncker, who leads euro- region finance ministers, denied the report.
By Susanne Walker - May 6, 2011 6:35 PM GMT+0200 Fri May 06 16:35:06 GMT 2011
“One concern is what would happen to euro banks that own the debt, and is it going to be marked down further, creating more of an economic issue,” said Thomas Roth, senior Treasury trader in New York at Mitsubishi UFJ Securities USA Inc.
The euro extended its losses after Der Spiegel magazine reported that debt-strapped Greece is considering withdrawing from the euro zone and reintroducing its own currency, and that the European Commission called a meeting to discuss the move. A spokesman for Luxembourg’s Jean-Claude Juncker, who leads euro- region finance ministers, denied the report.