Euro Rises on Speculation that ECB Might Ignore Bundesbank Objections

21 august 2012 forex,21 august 2012 forex news,21 august 2012 euro news,21 august 2012 currencies,21 august 2012 forex analysis

Despite the Bundesbank’s opposition to an ECB bond purchasing program, such a plan seemed more likely today, as commentators said that we should consider ignoring Bundesbank objections because the ECB might act anyways. The Telegraph’s International Editor Ambrose Evans-Pritchard wrote this morning that the newspaper confirmed a Spiegel report that the ECB is considering a plan to cap Spanish and Italian bond yields. Fitch’s David Riley also said that the central bank may act without the Bundesbank’s approval.

The other major issue driving the Euro crisis, Greece’s need for additional bailout payments, also seemed to be slightly improved in today’s trading. Greece’s Samaras will meet with Luxembourg’s Juncker today to start a week of talks that will also include discussions with Merkel and Hollande. Today, Germany’s CDU’s Norbert Barthle, a Merkel ally, said that small concessions are possible for Greece as long as they show a willingness to meet the main budget targets.

for more : dailyfx.com

 

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