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15 Mar 2013
Forex Flash: EU leaders summit continues, aims to address growth – Deutsche Bank
FXstreet.com (Barcelona) - According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “With the EU leader's summit continuing today in Brussels, the news flow has so far been focused on the around the growth vs. austerity debate. A draft conclusion prepared for the EU leaders summit appeared to offer some flexibility on budgets, saying there should be an appropriate mix of expenditure and revenue measures, including short-term targeted measures to boost growth.”
The thoughts were echoed ahead of the meeting by Francois Hollande who commented that "We need flexibility if we want to ensure that growth is the priority," adding that while he was committed to gradual budget consolidation, that did not mean that there was no room for maneuver. Merkel commented ahead of the meeting that the growth pact passed by EU leaders last year "has to be filled with life" and should be used to "get the money to the people so young people in Europe get jobs".
The thoughts were echoed ahead of the meeting by Francois Hollande who commented that "We need flexibility if we want to ensure that growth is the priority," adding that while he was committed to gradual budget consolidation, that did not mean that there was no room for maneuver. Merkel commented ahead of the meeting that the growth pact passed by EU leaders last year "has to be filled with life" and should be used to "get the money to the people so young people in Europe get jobs".