Short DAX at 7740

German Finance Minister Peer Steinbrueck said countries in the euro region may be forced to bail out other members of the 16-country bloc that face problems refinancing their debt.

“Some countries are slowly getting into difficulties with their payments,” the minister said late yesterday in a speech in Dusseldorf. “The euro-region treaties don’t foresee any help for insolvent countries, but in reality the other states would have to rescue those running into difficulty.


:eek:
 
Always fun to see how FDAX buy programs kick in...always same "procedure"...low somewhere around an even number...this time 4200.00...guess what the first target is ? 4272-4279 area...maybe
 
The German Finance Ministry on Friday denied a report in weekly magazine Der Spiegel that it is weighing plans for a coordinated rescue of financially distressed euro-zone countries. "The Spiegel report doesn't correspond with the facts. The Federal Finance Ministry isn't working on any such concepts," said finance ministry spokeswoman Jeanette Schwamberger in Berlin, according to Dow Jones Newswires. The spokeswoman said Germany has "no doubt about the unity of the monetary union," but that rising bond yield spreads within the euro zone warrant "joint action by the European Commission, European Central Bank" and euro-zone finance ministers "to discuss measures with the affected member states to reverse this development."
 
Deutsche Bank AG CEO Ackermann spoke at a dinner at Columbia University in New York:

* says it would be huge mistake for Europe to break up eurozone

* says bank's exposure to eastern Europe is 'very small'
 
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