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OECD: Greece deserves to be helped given austerity package

By   || March 15, 2010 at 17:11 GMT
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OECD Secretary General Gurria says Greece deserves to be helped given the austerity package, saying the package is strong and ambitious. Euro zone finance ministers should give a clear, strong signal of support for Greece. Going to the IMF should not be a taboo for Greece, he says, and Greece must show results to restore confidence.

EUR/USD is unmoved on the comments, awaiting comments from the EcoFin later this afternoon on the Greek matter. We trade at 1.3662/64.

UPDATE: The OECD upgrades its global GDP forecast for 2010 to 4.0/4.5% from its 3.4% forecast made in November.

It is too early to withdraw stimulus, they say, but not too early to signal exit strategies.

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