Weekly Eurozone Watch

Key Data Points
German 10-year bund 26 bps lower;
Italy 46 wider;
Spain 88 wider;
Portugal 31 wider;
Italian and Spanish banks hit hard;
Euro falls 3 percent.

Commentary
Short shelf life of last week’s policy placebo.  Nor countries making noises of leaving Euro.

Finland is committed to being a member of the eurozone, and we think that the euro is useful for Finland. Finland will not hang itself to the euro at any cost and we are prepared for all scenarios.

Collective responsibility for other countries’ debt, economics and risks; this is not what we should be prepared for. We are constructive and want to solve the crisis, but not on any terms.

Finnish Finance Minister Jutta Urpilainen

(click here if charts are not observable)

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