The Euro has recovered mildly ahead of Thursday’s Greek debt swap deadline. Investors have until Thursday 20:00 GMT to agree to swap their Greek bonds for new bonds worth approximately 70% less. 75% of bond holders need to accept the deal for it to pass. The European Union and the International Monetary Fund have warned that if the deal is not approved, Greece will not receive its latest bailout of €130bn, likely leading to a Greek default.
On the Interbank market the Euro currently trades at:
EURGBP 0.8360 (GBPEUR 1.1961)
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