ECB economist Stark would like to put the toothpaste back in the tube and go back to a time when financial products were less complex and the institutions that sold them were simpler as well. Good luck with that, Herr Stark.
EUR/USD continues to grind lower, eying support at 1.4700 in the near-term. More stops are perched below that level. Investors have been pulling money out of Europe today for fears that Greece could be the tip of the proverbial credit iceberg. Comments from the Swedish finmin that there are no European bailout clauses have helped speed the decline. You’re on your own, Greece.
EUR/USD trades now at 1.4714 while EUR/JPY is approaching 129.75 support.