Financial markets in Europe took another hit on Monday with more news coming from Greece regarding its debt woes.
According to a deal brokered with the IMF and the EU, Greece agreed to cut its deficit to 7.6% of GDP. However, as of Monday Greece indicated that this year’s deficit would be well over 8%.
With this target budget being missed, there is an increased possibility that Greece will default.
With news like this emanating from the EU, investors may indeed maintain reservations on the strength of the euro.
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