Sources have told Reuters that Chancellor Merkel and Finance Minister Steinbrueck will be among a group of government leaders meeting Wednesday to discuss further measures to shore up Germany’s banks and how to proceed with embattled lender Hypo Real Estate. Elsewhere business daily Handelsblatt reports that Germany’s financial stabilisation law could be sent to the cabinet to be modified as early as next week.
EUR/USD has ticked higher in late morning trade, presently at 1.2875, just shy of next technical resistance at 1.2880/85.
