Comments on the local economy from Luis Maria Linde in Madrid:
- Spain’s 2013 budget deficit slippage isn’t serious
- Continued wage moderation necessary in Spain
Work harder, earn less… but, hey, it’s sunny.
EUR/USD is a calm harbor amidst volatile trading today. It’s been chopping in the 1.3780-1.3800 range since New York rolled in.
Update: She adds that deflation risk exists, even though it is low.
