Euro surges vs. dollar amid Greece’s debt crisis. Monitors at a foreign exchange trading company in Tokyo display the current exchange rate of the Japanese yen against the Euro on Tuesday, June 30. The euro held on to gains on Tuesday after surging against the dollar as the initial shock of seeing Greece heading for a debt default eased slightly, but tensions remained high as the market awaited further developments in the deepening crisis. Reuters/Thomas Peter
Filipinos working in Greece will not be affected by the nation’s debt crisis, Labor Secretary Rosalinda Baldoz said in a statement on Tuesday.
“OFWs are preferred by Greek employers, who are very appreciative of their being industrious and professionalism,” the DOLE chief said.
Earlier, financial analysts predicted that the Philippines is safe from any fallout should Greece default on its €1.6 billion debt to the International Monetary Fund on June 30.
Should Filipinos feel the effects of the debt crisis and want to go home, Overseas Workers Welfare Administration (OWWA) Administrator Rebecca Calzado said the agency is prepared to give assistance to its members.
“OWWA stands ready to provide assistance in the event of OFW repatriation,” Calzado said.
There is an estimated 60,000 OFW’s working and living in Greece as of December 2013.