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Daily Report: Euro Mildly Firmer ahead of Greece Confidence Vote
Euro is a bit firmer today as markets focus is on confidence vote in Greece. After a three day parliamentary debate, Greek Prime Minister George Papandreou faces a vote in confidence in his government today. In order to secure political support, Papandreou reshuffled his cabinet last week and replaced finance minister George Papaconstantinou with heavy weight Evangelos Venizelos, once a rival within the ruling party. It today's vote is passed, the Greek parliament is expected to vote on the new austerity measures on June 28. And if everything's smooth, Eurozone finance ministers will approve the next tranche of the bailout fund of EUR 12b on July 3 for Greece to satisfy rollover payments of maturing debts in mid July and ease the short term situation till September.
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