Euro, stocks fall as fears of Greek default worsen

The euro slipped again this morning, with markets still largely unconvinced that Greece can dodge a default without political stability in Athens, keeping equity and commodity prices in a near-term downtrend.

Greece, whose prime minister is struggling to form a coalition government to push through unpopular austerity reforms, has become a focal point for investors looking for signals on whether to shed more risky assets and take defensive positions over the next few months.

Efforts by Olli Rehn, the European Union's top economic official to soothe markets overnight with expectations that the EU and International Monetary Fund will disburse a €12 billion loan in early July to Greece faded by the Asian session. The euro slipped fell back under US$1.42, Japan's Nikkei stock index was flat and oil prices slid back to red.

After a steady feed of negative headlines on Greece, investors were cautious ahead of a cabinet reshuffle in Athens later today.

The euro fell 0.2 percent to around US$1.4175. Traders will look for the euro to retest Thursday's low around US$1.4070 later in the day and will probably add to short positions if the currency gets near the lows.

Brent oil futures edged down 0.2 percent to US$113.85 a barrel, well off the six-week high reached on Wednesday of US$121.47.

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The Maltese people will understand how right the MLP were in suggesting that Malta should not rush into the Eurozone. Now the question is, what are all those in the innder circle who got amnesties and brought their money to convert to euros are going to do?
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pjg għalhekk hemm bżonn nitilqu minnufih mill-ue jgħidu x'jgħidu l-politiċi għax dawk dejjem jaqblilhom għax imorru tajjeb imma nkunu aħna li nbatu. Irridu nitilqu u nerġgħu ndaħħlu l-Lira Maltija għax minn hawn u ftit ieħor l-ewro se tispiċċa fix-xejn u niġu fixxa iktar milli aħna. Fejn se nsibuhom imbagħad il-politiċi taż-żewġ naħati li jgħidulkom li l-ewro hija l-munita tagħna? Issa qed taraw għalfejn hemm skoss kumġpaniji jridu jixtru d-deheb u issa anki l-fidda tagġkom għax kemm l-ewro kif ukoll id-dollaru Amerikan m'għandhomx ħajja twila u malli jfallu huma biss id-deheb, fidda u metalli prezzjużi oħra u proprjeta' li jibqgħu u min ma jkollux imut bil-ġuħ. Ippressaw fuq il-politiċi ħalli nitilqu lill-ewro u mill-ue għax jekk ma nitilqux jiddispjaċikom.
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nghidu grazzi lil GONZIPN li minghalih li ghamel xi bravura ghax dahhal lil Malta fiz zona ewro ma kien ghadu mhux il waqt u nirringrazjaw lil GHAREF l-iehor Dr dwardinu fenech adami talli dahhalna go Unjoni ewropea Dak li kien ghid Dr Alfred Sant KOLLU QEDIN NGHADDU MIN KEMM TAMBAR LI GHADU MHUX IL WAQT LI NIDHLU GO UE U KEMM QAL GHADU MHUX IL WAQT LI NEQILBU IL MUNITA TAGHNA SEWWA KONT TGHID DWRDU FENECH ADAMI IS SEWWA JIRBAH ZGUR U IZ ZMIEN QED JAGHTI RAGUN LIL DR ALFRED SANT
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"Jekk il ewro ta l- Ewropa jeghreq, ghanke il ewro li nuzaw ghawn Malta jeghreq ukoll ?" Iva ghax huwa l'istess munita. M'hemmx ewro ta malta u ewro ta' l'ewropa. Ewro wiehed hemm.
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Jien ma nifhimx kif tahdem din tal flus, ghalhekk ser nistaqsi... Jekk il ewro ta l- Ewropa jeghreq, ghanke il ewro li nuzaw ghawn Malta jeghreq ukoll ?