Euro falls after Taoiseach announces referendum

The euro fell against most of its major counterparts after Ireland said it will hold a referendum to ratify the European fiscal compact, increasing concern the measure may face resistance.

28th February, 2012
Euro falls after Taoiseach announces referendum
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The euro fell against most of its major counterparts after Ireland said it will hold a referendum to ratify the European fiscal compact, increasing concern the measure may face resistance.

“The risk is that the vote goes against it,” said Kit Juckes, head of foreign-exchange research at Societe Generale SA in London. “Bears will see this as a pin to burst the bubble of complacency about Europe that has peripheral bonds doing better.”...

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