Euro Falls on Concern Europe Leaders Failing to Resolve Greece
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The euro fell for a third day versus the yen and slid against the dollar as European leaders prepared to discuss Greece’s debt crisis amid concern a default risks spreading contagion to other countries.
The single currency headed for a second weekly drop versus the dollar and the yen after Luxembourg’s Jean-Claude Juncker said a “haircut” for holders of Greek securities would have unpredictable after-effects. Prime Minister George Papandreou will announce cabinet changes today after failing to garner support for austerity measures. Switzerland’s franc weakened for the third day in four against the dollar.