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Forex Flash: Debt crisis resolution likely years in the making – Deutsche Bank

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Old 30-07-2012, 14:17
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Default Forex Flash: Debt crisis resolution likely years in the making – Deutsche Bank

FXstreet.com (Barcelona) - As Draghi’s "do-whatever-it-takes" mantra reverberates around the globe, markets are still seen as priced for optimism Monday. Except for China, Asian equities started off the day up across the board led by the Hang Seng (+1.5%). This follows on from gains in European and US markets on Friday with the IBEX, FTSE MIB and S&P 500 that notched impressive gains.

Recapping some of the main weekend stories, EU's Juncker told Germany's Sueddeutsche Zeitung and France's Le Figaro on Sunday that leaders would decide in the next few days what measures to take to tackle Spain's bond yields and added that they had "no time to lose". He also added that "We will work in close agreement with the ECB, and we will, as Mario Draghi said, see results. I don't want to drive expectations, but I must say, we have reached a decisive phase".

Elsewhere Moody's highlighted that the ECB can do no more than buy time and its actions alone will not resolve the debt crisis. The rating agency added that resolution will ultimately rest on achievement of fundamental changes to member states' budgetary positions and debt stocks, on structural economic changes required to stimulate growth, and on institutional reform to the economic and fiscal governance of the euro area. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Each of which will take years to accomplish, and support from the ECB will be essential to the preservation of the euro in the meantime.”
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Old 21-09-2012, 08:29
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Default Re: Forex Flash: Debt crisis resolution likely years in the making – Deutsche Bank

Thanks for this information
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