BusinessWeek – The euro fell against the dollar on concern Greece’s request for a $60 billion bailout led by the European Union will fail to ease investor concerns about the nation’s ability to end its fiscal crisis.
The 16-nation currency slid against 14 of its 16 most- active counterparts as investors demand Greece pay almost triple what they charge Germany for its 10-year bonds. Greek Finance Minister George Papaconstantinou told investors they will “lose their shirts” if they bet the cash-strapped nation will default, as his government moved toward securing emergency aid before debt payments come due in mid-May.
