Really useless.
We get these periodic reports that the entire European banking system needs to raise EUR 2 bln, EUR 7 bln…
This morning, we get a report from Moody’s saying the Greek banking system alone needs EUR 44 bln!
“As part of a likely government debt restructuring program, the European authorities will strive to recapitalize the banking system in an effort to avoid a complete collapse of the economy,” Moody’s said.
Just another day in paradise!
EUR/USD opens on its lows in the US, now at 1.3320…
