Greek central banker Provopoulos says that his country needs a new strategy to cure its twin fiscal and current account deficits. Greece has no room to boost the sagging economy from a fiscal perspective, he says, and wards that fiscal discipline is necessary. The consumption-driven growth model of the past must be dumped, he says…sounds like the US needs some of the same medicine.
EUR/USD has edged back below the 1.3600 level and trades now at 1.3580.
