Mundell on the wires…

Written March 9, 2010 at 4:15 AM EST by  

Columbia professor Robert Mundell has made the following comments on Bloomberg television:

  • Growth/stability pact not strong enough.
  • There may not be a need for European monetary fund.
  • EU could create a less formal way of dealing with crisis.
  • Speculators are a big problem for Greece.
  • IMF can be useful; EU wants to solve issue itself.
  • Greece has to make the budget adjustments.
  • Euro is “best thing” that has happened to Europe.
  • Governments have to balance budgets.
  • He doesn’t see a Euro area defaulting.

Although not related, as these comments were release, the EUR made a new session low of 1.3579.

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