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RBA: Minutes of the Monetary Policy Meeting
Sentiment in global financial markets deteriorated in May, as political uncertainty in Greece and growing concerns about the fiscal and banking problems in Spain added to the pessimism surrounding the outlook for the euro area. Members noted that weaker-than-expected economic data, particularly for China, had also weighed on sentiment. The inconclusive parliamentary elections in Greece and the public backlash against austerity measures there had increased public discussion about Greece's possible exit from the euro area. A critical issue if Greece were to exit would be the ability of the European authorities to limit ... (full story)
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