The leaders of Germany and France clinched agreement on a joint European-IMF financial safety net for debt-stricken Greece just before an EU summit on Thursday, the French president's office said.
EU leaders edged toward consensus on a financial safety net for Greece on strict German conditions ahead of a key summit Thursday after the European Central Bank threw Athens a major reprieve on funding rules.
EU leaders appeared to be nearing consensus on an aid mechanism for Greece based on strict German terms before a high-stakes summit on Thursday and Athens won a reprieve when the European Central Bank extended looser funding rules.
Stock index futures rose on Thursday as sovereign debt concerns remained in focus ahead of a meeting of European leaders to help Greece, while investors awaited data on first-time U.S. jobless claims.
German Chancellor Angela Merkel backed aid for Greece with IMF involvement as a last resort on Thursday, and the European Central Bank extended looser funding rules in a big reprieve for Athens.
European Union leaders were striving on Thursday to reach a last-minute agreement on how to help Greece resolve its debt crisis and reassure investors before what was likely to be a tense summit.
The euro fell to a new 10-month low against the dollar on Thursday as Portugal's credit downgrade added to worries about debt in Greece and elsewhere in Europe, hitting riskier assets such as shares and commodities.
The euro hovered near 10-month lows on Thursday as a credit downgrade on Portugal added to worries about debt levels in Greece and other parts of Europe, weighing on riskier assets such as shares and commodities.
Despite several attempts to recapture the 92 cent level in Asia yesterday the Aussie dollar retreated and opens this morning back below 91 cents on technical support at 0.9080.
BRUSSELS, March 24 (Reuters) - European Commission President Jose Manuel Barroso made a new call on Wednesday for countries using the euro to create a safety net to help Greece if it needs financial assistance.
The euro sank to a 10-month low against the dollar and a lifetime trough versus the Swiss franc on Wednesday as speculation Greece may have a difficult time securing debt aid highlighted instability in the euro zone.
The euro hit 10-month lows against the U.S. dollar on Wednesday as investors doubted a solution for Greece's fiscal woes was on the cards, with the cautious mood holding Asian stocks below two-month highs.
The euro plumbed record lows on Wednesday as investors remained skeptical about a solution for Greece's fiscal woes, while Asian stocks tracked Wall Street's rally overnight to push toward two-month highs.
German car and truck maker Daimler AG was charged on Tuesday with violating U.S. bribery laws by showering foreign officials with millions of dollars and gifts of luxury cars to win business deals.
The Aussie dollar continued to pull back in early offshore trade weighed down by persistent selling in EUR/USD to eventually find a bottom around 0.9135 against the Greenback.
Germany signaled for the first time on Tuesday that it may accept European financial aid for Greece as a last resort, but only if the IMF is involved and euro zone partners accept tougher budget discipline rules.
Wall Street was set for a flat open on Tuesday as investors awaited data on the housing market, which remains one of the weakest segments of the economy.
Greece said on Tuesday it expects a positive outcome at this week's EU summit to its request for a European financial safety net despite Germany's insistence that aid will not be discussed.
Greece wants a European solution to its debt crisis and expects positive results from a European Union summit on March 25-26, Finance Minister George Papaconstantinou said on Tuesday.
Stock index futures were little changed on Tuesday, while investors awaited data on the housing market, which remains one of the weakest segments of the economy.
* Merkel says no need for EU summit to discuss Greek aid
* Greek PM says EU needs mechanism to deter speculators
* Juncker sees possible twin-track euro zone/IMF support
* Trichet says any help would have to be conditional loan
* Euro falls, Greek risk premium leaps amid uncertainty
Stocks rose on Monday, helped by gains in the healthcare sector as passage of a bill to overhaul the system eased uncertainty for investors.
