Euro Crisis: Shhhh, don't wake up the SMP

04 July 2012 | By Divyang Shah, Senior IFR Strategist, Adam Parry

IMF’s Lagarde has set the ball in motion arguing that it would be more appropriate for the ECB to resume SMP rather than cut interest rates. The argument is straight forward in that Germany does not require any further economic stimulus while Italy/Spain are in need of lower bond yields.

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