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Diário de Notícias - Portugal | Sunday, June 7, 2015

Euro losing its credibility

With an agreement between Athens and its creditors yet to be reached the crisis in the Eurozone is taking on a new dimension, the liberal-conservative daily Diário de Notícias writes: "It is highly likely that we will see the euro go down even further against the dollar this week. Not just because the chance of a Grexit is increasing but also because the euro's credibility as the world's second reserve currency is suffering more than ever before. Many investors, including the central banks, who have amassed billions of euros in their portfolios will conclude that it's better to get rid of the euro as a means of payment because it represents a monetary union that clearly isn't in a position to prevent its own collapse. A monetary union that is stuck in a bitter power struggle with a small country that was first destroyed and is now being driven out of the union."

» To the complete press review of Wednesday, June 10, 2015

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