EUR/USD is easing after comments from the ECB chief economist to the German parliament, carried by Reuters.
- German banks are under capitalized
- Germany should make concessions regarding Basel III
- US is betting that German banking system won’t be able to stay in current form after Basel III
- Fears slight inflation trend in US from Obama’s stimulus program
- Ratings agencies some times behave irresponsibly
- Wonders whether IMF has an exit strategy from economic support measures