The situation in Greece especially has topped the headlines this past week, and had the potential to send the euro into meltdown had it not turned out so well. The Greek government conducted a debt swap, aimed at getting bondholders holding more than €200bn in Greek bonds to change their bonds for ones worth 75% less. Had they refused, Greece would have been refused its €130bn EU bailout and been forced to default, prompting the much-feared contagion across Europe. In the event though, Greece’s creditors decided that triggering a financial apocalypse was not perhaps in their best interests, and more than 95% accepted the deal. Cue much jubilation among Greek and European Union public … [Read more...] about Pound to euro stable as central banks hold rates