Henar Fuentes held out the white cardigan sweater as if she wanted nothing more in the world. It was on sale for 8.45 euros ($11.44) at a Madrid boutique just a few minutes’ walk from the Puerta del Sol.
Greece is entering the home stretch of its first election campaign since becoming a global financial pariah and the polls show no party gaining a mandate to enforce the austerity policies needed to stay in the euro.
The pound weakened against the dollar for a third day after an industry group lowered the U.K.’s growth forecasts and Standard & Poor’s cut Greece’s sovereign debt rating, curbing investor demand for higher-yielding assets.
The pound slid the most in a week versus the euro after European Central Bank President Jean- Claude Trichet said interest rates may rise next month, increasing the euro area’s yield allure over the U.K.