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Forex pairs in this Article » (Barcelona) - The European bourses are taking a hit on Monday, with the German DAX 30 (0.20%), the French CAC 40 (0.70%), the Italian FTSE MIB (-0.33%) and the Spanish IBEX 35 (-0.39%) falling as the Eurogroup meeting takes place, starting at 11:30 GMT. The Troika and Greece are expected to come to a final agreement in regard to the Greek debt sustainability and its bailout program. A debt write-off seems to be out of the picture.

ECB's Nowotny stated his objection to growth based on credit inflows as the east Europe crisis proved it to be unsustainable. The Vice President of the ECB, Vitor Constanctio, spoke publicly ahead of the Eurogroup meeting, defending the OMT bond buying programme and expecting Spain to tap it. While euro nations will have to fix their own imbalances, they all should stay in the currency bloc and Constancio sees no probable departure of any country. In regard to today's meeting, a haircut of Greek debt is not on the table, according to the official. The same was said by German Chancellor Merkel's spokesman, aiming to revive the current Greek program.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones are signaling a lower opening between -0.25% and -0.35% ahead of the NY session with a particularly light economic calendar today. WTI crude oil is down by -0.82% ($87.80) and Gold sheds -0.18% ($1748).
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