The Euro is under pressure this week.

The Euro is under pressure this week.
March 5, 2012 Matthew Mocorro

The Euro is under pressure this week. On March 8th, Greece’s private investors will decide whether or not to accept a bond swap that could help prevent Greece from a messy default. If investors agree to this swap, they will forgive 53.5% of the principal and exchange remaining holdings for new government bonds and notes from the European Financial Stability Facility. This will be the biggest debt restructuring in history.

Greece’s second bailout package of 130 billion-euros is dependent on Greece’s private investors agreeing to the bond swap. The anticipation of the bond swap has already caused the Euro to fall nearly 2% against the US Dollar.

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