Euro drops, stocks cut gains on reports Germany rejects Greek proposal
LONDON, Feb 19 (Reuters) - The euro extended losses while
European stocks pared gains on Thursday amid reports that
Germany has rejected a Greek bailout extension proposal, traders
said.
Earlier, Greece had formally requested a six-monthextension
to its euro zone loan agreement as it raced to avoid running out
of money within weeks. But Germany's finance ministry said that
the Greek proposal does not correspond to the criteria agreed on
Monday by the the Eurogroup. [ID:nB4N0V001Q]
The euro hit a day's low of $1.13595 , down 0.3
percent on the day. It was also down 0.2 percent against the yen
.
European stocks pared gains, with the FTSEurofirst 300
turning flat. The index was up 0.4 percent shortly
before the news.
(Reporting by Anirban Nag and Blaise Robinson; Editing by John
Geddie)
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Keywords: MARKET FOREX/EURO
13:28-19/02
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