Euro higher as key Greece vote paves way for aid
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The euro is making gains against the dollar after the Greek parliament passed a key package of spending cuts and tax increases, paving the way for a release of aid necessary for it to avoid defaulting on its debts.
Analysts predicted the country would have defaulted as early as next month without help. European banks that hold Greek bonds would have been at heavy risk and the ensuing rise in borrowing costs across Europe would have sent economic ripples throughout the continent. (AP)
