FXstreet.com (Barcelona) - The German ruling on the ESM in the European morning has poured more optimism to an already cheerful crowd of traders, pushing the demand for the single currency to a new 4-month high in the vicinity of 1.2930
According to F.O.Hansen, Senior Economist at Danske Bank, “this could prove to be a turning point for the debt crisis. The ESM and the ECB’s Outright Monetary Transactions (OMT) are seen as a reliable and sufficient safety net”. As a way of conclusion, the expert adds that Spain and Italy have now the last say, and it is up to them to go into further fiscal measures and much needed structural reforms to finally leave the euro crisis behind.
“At that stage we might look back at the late summer of 2012 and conclude that this was turning point”.
According to F.O.Hansen, Senior Economist at Danske Bank, “this could prove to be a turning point for the debt crisis. The ESM and the ECB’s Outright Monetary Transactions (OMT) are seen as a reliable and sufficient safety net”. As a way of conclusion, the expert adds that Spain and Italy have now the last say, and it is up to them to go into further fiscal measures and much needed structural reforms to finally leave the euro crisis behind.
“At that stage we might look back at the late summer of 2012 and conclude that this was turning point”.
