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Weekly preview - Bazooka disappointment to weaken the Euro
The ECB will outline a bond-buying plan at this Thursday’s ECB meeting, it has no choice as failure to do so would inflict a terminal blow on the Euro. The bank will, however, also have to make significant compromises and concessions which will dilute the impact and weaken the Euro. Action will also be conditional on Spain agreeing to further economic and political humiliation which at the very least will delay action. Overall, the market reaction is likely to be one of measured disappointment as the game of chicken is extended for another few weeks. The ECB will have to try and keep the Bundesbank and as a proxy ... (full story)
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