The EU got out the rubber ruler and gave several states a light rap on the knuckles for excessive budget deficits. The UK should correct its deficit by 2013/14, Ireland by 2013, France by 2012.
Greece looks like it was singled out, with the EU saying it should rapidly correct excessive deficits by 2010. Don’t hold your breath in Brussels waiting for that…
EUR/USD has bounced from1.3480 lows after triggering stops below the 1.3487 lows from yesterday about this time…
