Euro Tumbles as Official Says ECB May Not Accept Greek Bonds

The euro fell versus the dollar for the first time in five days as a policy maker for the European Central Bank said it may not be able to accept Greek sovereign debt as collateral if the bond maturities are extended.

The shared currency dropped versus all of its most-traded counterparts except the Danish krone before elections in Spain on May 22 that may defeat Prime Minister Jose Luis Rodriguez Zapatero’s Socialist party, which has cut wages and spending to fight the sovereign-debt crisis. Fitch lowered Greece’s debt rating. The Bundesbank said Germany’s economy is losing momentum, damping speculation the central bank will raise interest rates.