Finance ministers from the euro zone were set to convene in Luxembourg to discuss topics including using the regional temporary bailout fund, according to Bloomberg. Though Greece has administered austerity measures in order to win approval for a second tranche of bailout aid, inspectors with the European Union, the International Monetary Fund and the European Central Bank remain in the Aegean nation to assess its ability to wisely allocate resources from that bailout.
But Mark McCormick, a currency strategist with Brown Brothers Harriman in New York, told Bloomberg he holds minimal optimism for results of the euro zone finance ministers' meetings. Strategist Imre Speizer with Westpac Bank of Australia predicted the crisis in the euro zone is likely to continue for "many, many months."
Another factor to monitor is upcoming elections in Germany and France, the region's largest and second-largest economies, respectively, according to Reuters.
France is scheduled to conduct elections in 2012 while Germany will follow suit in 2013.
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