http://www.fxstreet.com/news/forex-news/article.aspx?storyid=78cc086a-4bd7-4f78-9cb2-cb48754f090b
- “Two and a half years ago, the euro area faced a very bleak situation.
We had a fragmented financial system, a banking sector that would not
lend and an economy in recession. European economies were on diverging
but generally downward paths.”
- “Since then governments and the
ECB have taken several steps to address fragmentation, and the financial
situation in the euro area has improved dramatically. Spreads on
government bonds have fallen on average by 3 percentage points. Interest
rates on corporate and bank bonds have also converged substantially. “
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