MARKET TALK: Skepticism About EUR Justified -Commerzbank

Commerzbank says skepticism about EUR is justified even after European finance ministers agreed Greece's EUR130B bailout package overnight, as the level of involvement from the IMF looks set to be smaller than last time and as profits achieved by the ECB being passed on is an other step towards central banks providing nationals with finances. "[This is] not sending out a positive signal for the European currency," Commerzbank says, adding that even with the bailout, the large majority of market players is finding it hard to believe Greece will get through to 2020 without a further default. EUR/USD at 1.3265, down from a post-agreement high of 1.3293.