Corporate foreign exchange news

Berlusconi comments could impact forex dealers

Thursday, 04 August 2011 08:09:06 GMT

Published by Mark Smith-Halvorsen
Forex dealers may be impacted by changes taking place within the eurozone, with growing levels of concern being shown for Spain and Italy.
The latter country's prime minister Silvio Berlusconi yesterday (August 3rd) pledged to battle the economic crisis.
"The government and parliament will act, I hope, with a large political and social consensus to fight every threat to our financial stability ... we need to act all together," he said.
However, no specific details about what would be done were given and Unicredit analyst Chiara Corsa told Reuters the content of Mr Berlusconi's speech was "quite disappointing" and failed to address the issue of austerity measures.
Pierluigi Bersani, leader of the opposition, suggested the prime minister should step down.
Earlier this week the euro fell to a two-month low of 86.99 pence, a decline Reuters attributed to growing concern among investors about eurozone countries such as Italy and Spain's economic situation.
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