Word: euro
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...euro's steady decline...
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Greece can breathe a sigh of relief. On April 11, the 16 members of the European Union that use the euro agreed to lend $40 billion to the struggling nation. Under the long-awaited financial-rescue plan, Greece, which is $400 billion in debt, would be able to borrow at interest rates of about 5%, significantly lower than commercial market rates, which have been higher than 7%. The International Monetary Fund is expected to offer an additional $20 billion. Greece did not immediately accept the E.U.'s overture, saying it would wait to see if the pledge alone was enough...