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7 Oct 2013
Flash: US political gridlock continues to take centre-stage - BTMU
FXstreet.com (Barcelona) - Derek Halpenny, European Head of Global Markets Reserach at the Bank of Tokyo Mitsubishi UFJ notes that the political gridlock in the US continues to take centre-stage which makes it easy to forget that negotiations on the composition of the next German government continues.
Key Quotes
“The CDU’s hints at a willingness to enter a coalition with the Greens may have encouraged a shift from the SPD. Over the weekend, the SPD stated that it would be willing to compromise on its policies of tax rise on the rich as long as the CDU was able to find alternative sources of finance for required investment spending.”
“So perhaps we might get some progress on the formation of a government this week, which would certainly add to the safe-haven appeal of the euro in circumstances of a worsening crisis in the US.”
Key Quotes
“The CDU’s hints at a willingness to enter a coalition with the Greens may have encouraged a shift from the SPD. Over the weekend, the SPD stated that it would be willing to compromise on its policies of tax rise on the rich as long as the CDU was able to find alternative sources of finance for required investment spending.”
“So perhaps we might get some progress on the formation of a government this week, which would certainly add to the safe-haven appeal of the euro in circumstances of a worsening crisis in the US.”