- But can’t see eurobonds coming into being soon
- Eurobonds require full trust between euro governments
- Complete trust between European governments lacking
- Greece must deliver on commitments to EU
- Cannot envision Greece leaving the euro
- Portugal, Spain situations different from Greece
- Spain’s new govt forceful in implementing reform
EUR/USD sits at 1.3250, exactly where it was when I sat down two and a half hours ago.
