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ECB’s Nowotny: More steps needed from Greece before euro zone can pay next tranche

By   || February 13, 2012 at 19:04 GMT
|| 6 comments || Add comment

Is that the next tranche of the first bailout or the second? This stuff is so confusing…

EUR/USD is all the way back toward 1.3200 area after the S&P move to downgrade the Spanish banks (following on the heels of Fitch earlier in the afternoon). Greek concerns remain front and center as well…

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6 Responses to “ECB’s Nowotny: More steps needed from Greece before euro zone can pay next tranche”

  1. Annie on February 13th, 2012 20:19 GMT

    Jamie Do you think the longer they drag this Greece thing out, are they risking contagion again or does the LTRO take care of that?

  2. Jamie Coleman on February 13th, 2012 20:24 GMT

    It doesn’t take care of it entirely but it cushions the impact, for sure…We used to have to worry about bank liquidity being shut off in an instant and major institutions failing catastrophically. . We don’t have that concern any more. Now the concerns are more squarely aimed at the sovereigns themselves.

  3. Annie on February 13th, 2012 20:26 GMT

    Thanks It is going to be interesting to see how the European banks react in the next couple of days if this thing is still dragging on with the short ban lifted

  4. Hawk on February 13th, 2012 20:29 GMT

    The EU’s problem is more structural and political than financial.

  5. Jamie Coleman on February 13th, 2012 20:33 GMT

    Spot on, Hawk

  6. Hawk on February 13th, 2012 20:37 GMT

    Oil and water go together better than Germany and Greece.

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