• ESRB helps to protect the economy from the financial system
  • Politicians must continue fiscal reforms
  • There are reasons to be confident on the Euro economy
  • Setback in reforms is a ‘risk’
  • Feedback loop from financial instability is a risk
  • EBA is doing important work on banking
  • Need to rebuild trust in the financial system, which remains impaired
  • Investors need reassurance on asset quality

EUR/USD’s not a ‘happy bunny’ eating into the earlier mentioned bids in 1.2920/30 with a day’s low now of 1.2921