ECB chief economist Stark says he sees a certain amount normalization in money markets and that confidence has returned.
Confidence is eroding among US investors as money market mutual funds avoid lending to European banks with Greek exposures.
Looks to me like Herr Stark picked the first speech off the pile as he made his way to his most recent engagement. this one in Hamburg.
EUR/USD is consolidating gains after getting a boost earlier in the session from talk of European debt guarantees for Greek debt. It trades at 1.42170 from 1.4294 highs.
