OECD: Greece deserves to be helped given austerity package

OECD Secretary General Gurria says Greece deserves to be helped given the austerity package, saying the package is strong and ambitious. Euro zone finance ministers should give a clear, strong signal of support for Greece. Going to the IMF should not be a taboo for Greece, he says, and Greece must show results to restore confidence.

EUR/USD is unmoved on the comments, awaiting comments from the EcoFin later this afternoon on the Greek matter. We trade at 1.3662/64.

UPDATE: The OECD upgrades its global GDP forecast for 2010 to 4.0/4.5% from its 3.4% forecast made in November.

It is too early to withdraw stimulus, they say, but not too early to signal exit strategies.