German finance minister Steinbrueck says he is skeptical of a stress test for EU banks. It may undermine confidence in the sector’s recovery, he says. That’s the spirit Herr Steinbrueck: Don’t look as you may not like what you find.
German Chancellor Merkel is also on the wires, saying the low point for the economic crisis should be reached soon though growth won’t return until 2010.
EUR/USD is consolidating intraday losses at 1.3644 with US equities set to open lower and risk aversion a notch or two higher.
