- Callum Henderson, global head of currency research at Standard Chartered Plc
Greece, Spain and Italy are only halfway through implementing reforms and adjusting the economic imbalances, said the Moody's Investors Service on Tuesday.
"Adjustments, both in the periphery and the core, have already taken place -- in some cases, to a significant degree," Moody's analysts including by Sovereign Chief Economist Lucio Vinhas de Souza in New York said in a report published today. The process "is at best only half complete."
Euro gained before Luxembourg Prime Minister Jean-Claude Juncker visit to Greece tomorrow. Euro currency index added 0.06 per cent to 90.97 points.
"The hurdles are still high, but European leaders do seem to be working towards more positive results," said Callum Henderson, global head of currency research at Standard Chartered Plc in Singapore.
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