German position on debt “could break backs, force countries toward bankruptcy”
Elsewhere, Banco Santander CEO says funding situation for Spanish banks is improving.
10 year spread 4 bps tighter at 561 bps. Meanwhile EUR/USD has finally moved, slipping to 1.3645 at writing. Large US commercial bank said to be notable seller in latest move.
Ireland request for bank aid would be to fend off bailout of state Here’s link to story.
EUR/USD seeing fairly steady price action so far this morning, presently at 1.3670.
Ireland has not asked for aid, Germany confident Ireland will implement budget consolidation successfully Don’t know what newspaper report he’s refering to.
Incase of need, the EU has all the necessary instruments in place to assist Ireland We are following the situation, there is no need to activate any mechanism