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The Week Ahead--Week of July 29th, 2012
As we start a new week there are high expectations for official action from the European authorities to reduce the credit costs for Spain and Italy, the latest victims of the sovereign mess. This comes after fighting talk from ECB President Mario Draghi on Thursday who said that the Bank would do “whatever it takes” to save the euro. Next the German and French leaders came out and also pledged to defend the single currency from attack. Politicians and central bankers are fairly loose with the phrase “whatever it takes” especially during a crisis, so as we start a fresh week we need to find out three things: ... (full story)