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Merkel: Europe needs to work on construction flaws

FXStreet (Łódź) - Speaking at an economic event in Lindau, Germany, Chancellor Angela Merkel stressed that to definitively overcome the debt crisis in Europe, EU Member States should tighten their cooperation further.

She called for improving the construction of the EU and for making the Eurozone banking system more transparent. She also suggested G20 countries should tighten shadow banking rules.

Furthermore, Merkel stressed that sustainability is the main principle of the German government's decisions on fiscal policy. She pointed to the demographic challenge in Germany as one of the most important to deal with currently in order not to overburden future generations.

Easing expectations and USD rally plot against the JPY - BTMU

Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observed the current softness around the Japanese currency...
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EUR/USD remains capped below 1.3300

The EUR/USD is trimming a slight part of today’s losses, having bounced from a fresh 11-month low at the beginning of the New York session.
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