Standard Chartered: EM currencies will come out top in 2011
Callum Henderson, global head of foreign exchange research at Standard Chartered in Singapore, criticised the EU/IMF €750 billion financial stabilisation fund for the eurozone countries as "just a case of more debt on existing debt".
Henderson said that, while the package solves immediate liquidity concerns and southern Europe’s short-term debt requirements, it falls short of a meaningful and sustained debt and deficit reduction plan. He added that, without a Greek debt restructure, it is
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