Euro slips ahead of Greek debt talks

Tokyo

THE euro inched lower on Monday ahead of more talks aimed at solving Greece's debt crisis, as investors eye a slate of speeches by Federal Reserve officials for further clues about the timing of an interest rate hike.

The single currency eased to US$1.0813 and 129.69 yen on Monday from US$1.0821 and 129.98 yen in New York on Friday. The decline came before the leaders of Greece and economic powerhouse Germany met in Berlin on Monday to discuss Athens' debt woes and economic reforms necessary to unlock fresh bailout cash. Spain's economy minister Luis de Guindos turned the screw on Athens another notch on Sunday by insisting that it will not receive any money until it implements all its proposed reforms. German Chancellor Angela Merkel also insists that if Athens wants more bailout loans, of which Germany stumps up the biggest share, Greece must accept the bitter medicine of cuts and reforms.