EU struggles to convince markets in euro crisis

Press quote (Reuters)
28 May 2010

"This is the worst possible message they [Germany] could be sending the markets because it suggests they are still not acknowledging what the underlying problem here is," said Simon Tilford, chief economist at the CER. "Far from reassuring the market and stabilizing market sentiment, this will further undermine confidence in the ability of eurozone governments and policymakers to get on top of the crisis. It will aggravate the situation further."