- Restructuring would bring Greek economy to its’ knees, have devastating effect
- Greece must continue reforms agreed with IMF, EU. Must start privatisation
- Further euro zone interest rate hikes depend on economy, inflation (really?)
- Euro nominal rate at same level as 2005 vs major currencies, 10% lower in real terms
- Minimum interest rate less justified as risk of deflation, recession decreases
EUR/USD has traded firmer during Asian session, presently up at 1.4500 from North American close Wednesday down around 1.4440. Barriers remain at 1.4530, 1.4550 and 1.4600.
