There were further concerns surrounding Greek debt-restructuring talks with reports that negotiations were close to deadlock as there was heavy resistance to calls for a larger private-sector debt restructuring. There were further concerns that continued acrimony would increase the risk of Greece being pushed towards a hard default.
There were comments from ratings agency Fitch that the ECB needed to do more to prevent a cataclysmic collapse of the Euro which pushed the Euro sharply lower and there were further rumours surrounding a French credit-rating downgrade by Standard & Poor's in rumour-driven trade.
