This is very bearish of euro if true: Greece is discussion prolonging repayment of EU/IMF debt, though no decision has yet been taken.
The news is being reported by Reuters via Skai TV.
UPDATE: The Greek FinMin says the 2010 deficit will be about 8% of GDP from 14% in 2009, according to Skai TV.
EUR/USD is holding up shockingly well on the news with the market lulled to sleep on this partial US holiday, trading only 4-5 pips lower from the 1.3888 area where it traded before the news…
UPDATE: Apparently there was some discussion of stretching out payments at the IMF meeting over the weekend. The GErmans are not happy, not surprisingly.