Euro, Stocks Recover as Debt Concern Eases The euro erased losses and European stocks pared earlier declines, while U.S. equities were little changed, amid European assurances that a solution will be found to spare Greece from default. U.S. Treasuries erased earlier gains.
The euro climbed less than 0.1 percent to $1.4308 at 10:06 a.m. in New York after earlier sinking as much as 0.8 percent. The Stoxx Europe 600 Index fell 0.5 percent, recovering from an earlier 1.1 percent slide. The 10-year Treasury note yield was down less than one basis point at 2.94 after sinking as much as six points earlier. The S&P GSCI Index of commodities fell 0.2 percent for a fourth straight decline.
The 17-nation shared euro currency also erased its decline versus the yen as Luxembourg’s Jean-Claude Juncker said Italy was not in danger from the debt crisis. Juncker said Greek Prime Minister George Papandreou had assured him the government would do everything to ensure financial aid from the European Union and International Monetary Fund before the Greek parliament resumes debating a motion of confidence in the government. http://www.bloomberg.com/news/2011-06-20/euro-oil-drop-on-greek-debt-asia-stocks-gain-after-seven-weekly-losses.html
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