Mario Monti: no crisis for the Euro

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Source: Forexfactory

Italian PM, Mario Monti, announced that 'the Euro is not in crisis' as the common currency manages to maintain its exchange rate versus the USD. Moreover the banking system of Italy stabilizing and is not under threat, he added. He also claimed the problem of the EU is high level of public debt that is a systematic crisis. The speech came after UniCredit announced it plans to raise EUR7.5bn to meet capital requirements that weighted down on the bank's share price.

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Mon, 09 Jan 2012 15:56:28 GMT

Switzerland's retail sales soar in November

Retail sales in Suisse increased essentially more than expected in November. The retail sales surged 1.8% on an annual basis in November while analysts expected them to add 0.5%, reported Switzerland's Federal Statistical Office. After the data release, Swiss Franc stayed higher against the USD and the pair USD/CHF is currently trading at 0.9536, shrinking 0.16%.

Mon, 09 Jan 2012 16:24:41 GMT

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