Greek Euro Exit

Greece has successfully exited its final, three-year bailout programme, agreed in August 2015 to help it cope with the continued fallout from a debt crisis.

Relief was the dominant sentiment across European markets, ahead of the European Central Bank's monthly policy meeting later in the day, as Greece's approval of the painful measures lessens the likelihood of Athens's immediate exit from the euro zone.

Some in the German government would have preferred a temporary Greek exit from the euro zone, German Finance Minister Wolfgang Schaeuble said today, without saying if he was among that number.

The greenback performed well against the yen, which lost its safe-haven appeal with the worst-case-scenario of Greece exiting the euro seemingly averted.

Luxembourg's foreign minister has made an impassioned plea for Germany to avoid a Greek exit from the euro, warning Berlin of a catastrophic schism with France if it pushes for Athens to leave the currency union.

Slovakia's Finance Minister Peter Kazimir on Sunday warned that Greece's 'No' referendum result opened the door to the country's departure from the eurozone, becoming the first European minister since the crucial vote to raise the prospect of a "Grexit".

There were widespread fears that the euro would plunge in the aftermath of a "No" vote, but analysts said investors were still in the process of weighing what the decision actually means.

Greece could seek legal action to stop the country being forced out of the eurozone if it fails to seal a debt deal, The Daily Telegraph reported on Monday.

The fuse may be lit for a Greek exit from the euro zone but the fallout in the United States is expected to be modest and not enough to throw the Federal Reserve's likely September rate hike off course, said former Fed officials and outside analysts watching the latest turn in Greece's crisis.

Euro zone leaders welcomed new budget proposals from Athens on Monday as a basis for further negotiations to unlock billions of euros in frozen aid and avert a default that could trigger a Greek exit from the single currency area.

Eurozone leaders said they hoped to finally seal a Greek bailout deal this week to save Athens from default and a possible exit from the euro, but Germany warned that more hard work was needed.

The report said Europe may seek to create a 'grey territory' situation, in which a default would not necessarily morph into a Grexit (or an exit of Greece from the EU and euro).

Greece and its creditors hardened their stances on Monday after the collapse of talks aimed at preventing a default and possible euro exit, prompting Germany's EU commissioner to say the time had come to prepare for a 'state of emergency'.

The US dollar was broadly lower on Wednesday as hopes for progress in Greek debt talks and a huge spike in European yields combined to give the euro its biggest gain in three months.

The findings from a survey of economists taken this week are likely to disappoint the ECB, especially just after it announced, after much debate, a quantitative easing programme worth 60 billion euros a month starting in March.

Greece has successfully exited its final, three-year bailout programme, agreed in August 2015 to help it cope with the continued fallout from a debt crisis.

Relief was the dominant sentiment across European markets, ahead of the European Central Bank's monthly policy meeting later in the day, as Greece's approval of the painful measures lessens the likelihood of Athens's immediate exit from the euro zone.

Some in the German government would have preferred a temporary Greek exit from the euro zone, German Finance Minister Wolfgang Schaeuble said today, without saying if he was among that number.

The greenback performed well against the yen, which lost its safe-haven appeal with the worst-case-scenario of Greece exiting the euro seemingly averted.

Luxembourg's foreign minister has made an impassioned plea for Germany to avoid a Greek exit from the euro, warning Berlin of a catastrophic schism with France if it pushes for Athens to leave the currency union.

Slovakia's Finance Minister Peter Kazimir on Sunday warned that Greece's 'No' referendum result opened the door to the country's departure from the eurozone, becoming the first European minister since the crucial vote to raise the prospect of a "Grexit".

There were widespread fears that the euro would plunge in the aftermath of a "No" vote, but analysts said investors were still in the process of weighing what the decision actually means.

Greece could seek legal action to stop the country being forced out of the eurozone if it fails to seal a debt deal, The Daily Telegraph reported on Monday.

The fuse may be lit for a Greek exit from the euro zone but the fallout in the United States is expected to be modest and not enough to throw the Federal Reserve's likely September rate hike off course, said former Fed officials and outside analysts watching the latest turn in Greece's crisis.

Euro zone leaders welcomed new budget proposals from Athens on Monday as a basis for further negotiations to unlock billions of euros in frozen aid and avert a default that could trigger a Greek exit from the single currency area.

Eurozone leaders said they hoped to finally seal a Greek bailout deal this week to save Athens from default and a possible exit from the euro, but Germany warned that more hard work was needed.

The report said Europe may seek to create a 'grey territory' situation, in which a default would not necessarily morph into a Grexit (or an exit of Greece from the EU and euro).

Greece and its creditors hardened their stances on Monday after the collapse of talks aimed at preventing a default and possible euro exit, prompting Germany's EU commissioner to say the time had come to prepare for a 'state of emergency'.

The US dollar was broadly lower on Wednesday as hopes for progress in Greek debt talks and a huge spike in European yields combined to give the euro its biggest gain in three months.

The findings from a survey of economists taken this week are likely to disappoint the ECB, especially just after it announced, after much debate, a quantitative easing programme worth 60 billion euros a month starting in March.