The shared currency of the European Union fell Wednesday against the U.S. dollar after finance ministers from the euro zone nations failed to negotiate a pact about reducing Greek debt, Bloomberg reports.
Starting Tuesday afternoon, the ministers and officials with the International Monetary Fund and the European Central Bank conducted nearly 12-hours-worth of meetings that lasted late into the night, according to Reuters. They resolved to meet again on Monday of next week.
"We are close to an agreement but technical verifications have to be undertaken, financial calculations have to be made and it's really for technical reasons that at this hour of the day it was not possible to do it in a proper way and so we are interrupting the meeting and reconvening next Monday," chairman Jean-Claude Juncker with the Eurogroup told reporters, according to Reuters. "There are no major political disagreements."
Led by Germany, the largest economy in the euro zone, international creditors stopped short of offering new funding for Greece and additional causes of debt.
Greek Prime Minister Antonis Samaras said that declining to disburse bailout aid is not validated by a debt deal not being in place, according to Reuters.
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