German Finance Minister Steinbruek says he and Chancellor Merkel are both very reticent on bilateral support for other euro countries, opining that euro states won’t deal with their own problems if Germany is seen as too eager to help. The official feels Germany can’t afford to support a euro zone bond. He feels the euro zone is stable, and sees no danger of a euro zone country failing to meet their obligations.
EUR/USD has drifted off to 1.2765 at writing in fairly orderly trade.
