Wall Street Journal
June 20, 2011
More support for the euro zone's most fragile economies in the form of a larger European Financial Stability Facility helped the euro recoup earlier losses.
The news on the rescue fund helped the single currency trade back to almost even against the dollar; the euro reversed direction against the yen and made modest gains against the Japanese currency.
Analysts, though, said any tick up was likely to be fleeting because of so much uncertainty on putting a cap on Greece's fiscal troubles. To that end, the debt crisis in the euro zone's periphery is threatening to shatter the region's economic recovery and may cause a global financial disruption if not stopped, the International Monetary Fund warned anew Monday.
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