AUTOREFRESH 
ECB’s Trichet: budget cuts won’t lead to new slump
across the wires….
- dismisses warnings that drastic and simultaneous spending cuts planned by euro zone governments could send the 16-country bloc back into recession.
- too soon to sound the all-clear over the crisis, but backed eagerly awaited bank stress tests
- totally against the view that reducing public expenditures will hinder economic growth
- stress tests will increase transparency and enhance investors’ confidence in Europe’s banking sector
- vital for governments to get their finances back in order
- backs harsh punishments for governments that flout Europe’s deficit limits.
- most severe cases of persistent non-compliance (countries not complying with stability pact rules), a limitation or suspension of voting rights should be considered
-we have to finalise new rules and regulations that will help to make our economies more resilient
yawn – these people have their head in the clouds
somewhere darker than that i think!
Hi Dave,
Is there any specific event over the weekend that you may be aware that may influence the market?
Cheers
Hi Gringo, nothing that I am aware of – perhaps you are right and we have seen this week’s best attempt….but I still believe it will continue before we start the downward side again
Hi David
How much do think the eurusd will go up before it slips away
Thanks for the warning Dave of continuation up. I’ve just initiated my short in Cable and EURUSD. I guess with lid on EURGBP this may now reflect more on Cable move up? I’ll keep your point in mind.