Won’t be helping euro any. New session low 1.3305.
- Greece must align wages with productivity
- Believes amounts ofl oans to Greece sufficient
- Won’t repeat same mistakes as during Asian crisis
- Latvia had very tough programme, its problems are solved now
- There is a risk of Europe falling in two parts
- Does not see risk of Germany exiting the euro zone
- European institutions sometimes too slow but confident will find comprehensive solution
- ECB has given adequate resources to the banking system in euro zone
General risk appetite seems to be evaporating somewhat. US stocks lower, oil and especially gold coming off at a rate of knots.
