Euro Trades Warily As All Eyes on Eu Summit

Currency markets continued to be on edge regarding the resolution of the Greek fiscal crisis with all eyes focused on the German Finance Ministry meeting ahead of the EU summit tomorrow. The German meeting ended with no official decision on the issue, but sources stated that they expect a statement to come tomorrow. The resolution of the Greek fiscal problem now centers on whether it will be a bilateral or a multilateral solution although at this point it appears a direct assistance package from Germany to Greece will be the most likely possibility.