EU’s Almunia: Sees positive signals in Europe’s economy

EU Monetary Affairs Commissioner Almunia says he can see positive signals in Europe’s economy, stating “In the real economy we have seen some positive signals in terms of business confidence” adding “Financial markets are stabilising and financial conditions for companies appear to be improving.”

Almunia feels fiscal stimulus measures should be implemented as swiftly as possible. Feels recovery in growth that follows crisis may be gradual.

EUR/USD sits at 1.3580, seeing early European trading being confined to a narrow range.