Monday saw the value of the common currency of the European Union briefly increase against the world's reserve currency but the leader of one debt-hobbled euro zone nation issued sharp criticism of another one, published reports indicate.
German think tank Ifo released a survey stating business sentiment in the nation hosting the region's biggest economy surprisingly improved, Bloomberg reports. But Italian Prime Minister Mario Monti called attention to the plight of Spain, serving as a reminder of the dangers and damages caused by the sovereign debt crisis.
"It doesn't take much to recreate risks of contagion," the prime minister said over the weekend while at a conference in Northern Italy, according to Bloomberg. He noted Spain "hasn't paid enough attention to its public accounts."
Monti's remarks come ahead of a regional finance ministers' meeting set for Friday in Copenhagen. Officials are attempting to raise a ceiling on bailout funding equaling the equivalent of $664 billion in euros.
The Ifo business climate index came in at 109.8, rather than the 109.6 that economists and analysts anticipated, according to Bloomberg.
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