German Finance Minister Steinbrueck has apparently told Chancellor Merkel about his proposals to help clean up banks’ balance sheets.
Steinbrueck has been under pressure from within the ruling coalition to put forward a plan. The proposals are expected to form the basis of a top level meeting on the matter to take palce in the week after Easter.
So far Steinbrueck has said banks would have to find their own solution for toxic assets but that the government might help lenders deal with assets which are temporarily illiquid.
EUR/USD is ticking higher, presently at 1.3275. Technical resistances 1.3280/90, 1.3320 and 1.3340.
