Eurogroup head Juncker says that new forecasts from the EU commission will show that past forecasts were far too optimistic. The eurozone will not see the beginnings of a recovery until Q4 this year and it will be 2011 before an ongoing recovery will take hold.
Like Trichet, he says ECB rates cannot go down to zero.Thursday’s cut was the right decision and was adequate, he said.
EUR/USD is recovering lost ground, quite apart from the Juncker comments
