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| Version 0 | Version 1 |
|---|---|
| Euro hits five-month dollar low | Euro hits five-month dollar low |
| (about 3 hours later) | |
| The euro has hit a five-month low against the dollar as continuing concerns about the Greek economy weigh heavily on the currency. | The euro has hit a five-month low against the dollar as continuing concerns about the Greek economy weigh heavily on the currency. |
| The euro was down to $1.421, the weakest it has been since the middle of August last year. | The euro was down to $1.421, the weakest it has been since the middle of August last year. |
| Although Greece has passed measures to reduce its budget deficit dramatically, some analysts believe the country's financial woes will persist. | Although Greece has passed measures to reduce its budget deficit dramatically, some analysts believe the country's financial woes will persist. |
| Against the pound, the euro also fell, with a euro worth 87 pence. | Against the pound, the euro also fell, with a euro worth 87 pence. |
| "Greece's debt problems look to be deep-rooted and they cannot be resolved immediately," said Takeshi Makita at the Japan Research Institute. | "Greece's debt problems look to be deep-rooted and they cannot be resolved immediately," said Takeshi Makita at the Japan Research Institute. |
| High debts | High debts |
| The euro rose steadily against the dollar for most of 2009, but recent falls will come as a welcome relief to European exporters. | The euro rose steadily against the dollar for most of 2009, but recent falls will come as a welcome relief to European exporters. |
| A weaker euro means their products become cheaper for overseas customers. | A weaker euro means their products become cheaper for overseas customers. |
| Earlier this week, eurozone finance ministers said they welcomed the efforts being made by the Greek government to reduce the country's huge budget deficit. | Earlier this week, eurozone finance ministers said they welcomed the efforts being made by the Greek government to reduce the country's huge budget deficit. |
| Last week, the Greek parliament approved a three-year plan to cut the country's deficit from the current 12.7% of its annual gross domestic product (GDP) to 2.8%. | Last week, the Greek parliament approved a three-year plan to cut the country's deficit from the current 12.7% of its annual gross domestic product (GDP) to 2.8%. |
| Greece also plans to reduce its debts, which amount to 113% of its GDP. | Greece also plans to reduce its debts, which amount to 113% of its GDP. |