The Euro is supported by hope says Mitul Kotecha

Written by Mitul Kotecha Wednesday, 28 September 2011 10:40
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Hope appears to be the overriding sentiment filtering through markets at present. Such hope includes expectations that the European authorities will be able to ring fence Greece and avoid much deeper and wider comtagion to other eurozone peripheral countries than has already taken place. This may involve a European version of the US Troubled Asset Relief Program (TARP). Various other measures are being speculated on including covered bond purchases from the ECB, provision of 12 month liquidity by the ECB, a policy rate cut, banking sector recapitalization and a beefing up of the EFSF bailout fund.

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Mitul is the author of the forthcoming Searching Finance book: Gyrating Currencies

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