June 20, 2011
World stocks, the euro and crude prices fell on Monday and bond yields in heavily indebted euro zone countries jumped after the region’s finance ministers delayed a final decision on extending emergency loans to Greece.
Yields on safer U.S. Treasuries and German Bunds slipped and gold prices held steady at above $1,530 an ounce.
Euro zone finance ministers have postponed a final decision on extending a further 12 billion euros in emergency loans to Greece, ratcheting up pressure on Athens to first impose harsh austerity measures.
They said they expected the money, the next tranche in last year’s 110 billion euro bailout package extended by the European Union and the International Monetary Fund, to be paid by mid-July.