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Draghi: Euro is irrevocable despite Greek problems

Apr. 19, 2015 7:45 AM ETFXE, ERO-OLD, URR, DRR, ULE, EUO, EUFXBy: Yoel Minkoff, SA News Editor61 Comments
  • ECB president Mario Draghi said Saturday that Europe is rooting for Greece to resolve its problems, but the Hellenic Republic is the only party that can save itself.
  • Draghi also referred to a comment he made in August 2012 - when pressed by reporters about a Grexit - affirming that the euro "cannot be reversed."
  • Ongoing talks between Athens and its creditors have been going painfully slow, with the latter insisting on a set of detailed structural reforms to approve €7.2B in aid for the cash-strapped country.
  • As a result, Eurogroup ministers set an April 20 deadline last week for Greece's next reform proposal.
  • ETFs: FXE, EUO, ERO, DRR, EUFX, ULE, URR

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