Merkel refuses national debt purchases as a way to tackle crisis

Note: This section contains information in English only.
Source: Bloomberg
German Chancellor Merkel denied using direct countries' debt purchases via Eurozone rescue fund as a measure to fight turmoil. Merkel admitted that such a tool is legally possible. However, Merkel considers this measure as purely theoretical and hasn't express any interest in committing to sovereign bill purchases. French Socialist President Hollande in contrast suggests that it would be a reasonable way how to lower surging borrowing costs.
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Thu, 21 Jun 2012 06:28:02 GMT

Euro weakens ahead of Spanish debt sale

The 17-nation currency depreciated on Thursday as investors awaited Spanish bond auction. Moreover report on Eurozone manufacturing and service activity is going to be released today and it is predicted to show contraction. Euro fell 0.3% versus greenback to USD 1.2670. Currently EUR/USD is trading at 1.2675.

Thu, 21 Jun 2012 08:20:06 GMT

Federal Reserve enlarges Operation Twist program by USD 267 billion

The Federal Reserve announced on Wednesday it will extend its Operation Twist program to prolong maturities of its assets and pledged intervention in labour market if situation worsens. The central bank will extend the program by the end of 2012 through selling shorter-term assets worth USD 267 billion and purchasing same size longer-term securities in order to cut borrowing costs.

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