He said this at this morning’s press conference and is repeating it on Dutch TV, Bloomberg reports. He also says the EU must reinforce the growth and stability pact, which limits debt and deficits (in theory). There is no currency crisis, he says. There is a crisis in fiscal policy.
EUR/USD is extending gains, pushing as high as 1.3376 as Europe squares headed into their close.
A larger, more comprehensive bailout structure in Europe is on the table, and that is helping the euro’s rapid recovery.
