Five ETFs to Watch This Week

NEW YORK (TheStreet) -- This week has the potential to be volatile, with EU finance ministers meeting to discuss Greece and the Federal Reserve meeting to discuss monetary policy on March 16. The tentative deadline for health care reform in Congress is March 18, but that's already looking tentative. Here's the ETFs to watch this week.

Euro Shares(FXE)

The euro has been consolidating after a swift decline from mid-January until mid-February. The FXE has bounced slightly from its lows, and the price is back to early February levels.

Politicians were able to put the brakes on the decline by saying they would offer aid for Greece if it trimmed its deficit. Since then, Greece has pushed through a series of spending cuts and tax increases designed to close its budget shortfall.

However, it's unclear whether the Germans will go along with a bailout. Last week Der Spiegel ran a cover story on "The Euro Lie." It mirrors other articles that have attacked Greece for "deception," editorials that have criticized the early Greek retirement age and politicians that have fired barbs at the country.

There's a May regional election that could cost Chancellor Angela Merkel's party control of the upper house in parliament and she doesn't want to hand an issue to her opponents. It's likely, then, that the outcome of EU finance ministers meeting will be to delay a final decision on Greece. Since it may be weeks until the next step in the process, the euro is likely to follow the course it sets this week.