24 Jun 2014
EU Summit will be the main event over the weekend – Danske Bank
FXStreet (Edinburgh) - The upcoming EU Summit will be the only risk event in the euro area in the weekend, remarked Pernille Nielsen, Analyst at Danske Bank.
Key Quotes
“Ahead of the EU summit to be held on Friday a ‘strategic agenda’ written by Herman Van Rompuy shows that focus of the summit will be on limiting ambitions on policy issues and ease of austerity demand”.
“In the draft it says that “The union should only act when together we can achieve more than individual countries” which should be seen in light of the victory for anti-EU parties at the EU parliament election last month”.
“Regarding fiscal measures, the strategic agenda mentions the rules “built-in flexibility” and the need to take “bold steps” on investments which is something especially Italy and France have requested”.
“Last year when the EU leaders started to put more focus on growth-promoting policies instead of trying to save their way out of the crisis, it was supportive for European sovereign spread compressions”.
Key Quotes
“Ahead of the EU summit to be held on Friday a ‘strategic agenda’ written by Herman Van Rompuy shows that focus of the summit will be on limiting ambitions on policy issues and ease of austerity demand”.
“In the draft it says that “The union should only act when together we can achieve more than individual countries” which should be seen in light of the victory for anti-EU parties at the EU parliament election last month”.
“Regarding fiscal measures, the strategic agenda mentions the rules “built-in flexibility” and the need to take “bold steps” on investments which is something especially Italy and France have requested”.
“Last year when the EU leaders started to put more focus on growth-promoting policies instead of trying to save their way out of the crisis, it was supportive for European sovereign spread compressions”.