Standard & Poor's Head of Sovereign Ratings Moritz Kraemer says today that the euro zone periphery is succeeding in whittling away their external imbalances. Speaking at Euromoney's Bond Congress, Kraemer warned, however, that there was a real danger of complacency setting in now that the crisis was no longer quite so acute. "You have seen a lot of recalibration of the economy. If you look at the external imbalances, they have been whittled down, in some countries more than in others, Ireland in front and Greece at the back. There is a rebalancing happening." But he continued, adding: "The risk is always that ... (full story)