Lorenzo Codogno
Lorenzo Codogno
likely trend underlying
The underlying trend is encouraging and will likely continue.
economy euro european harder main quicker reason rebound sharp
The main reason for the euro rebound is the sharp slowdown in the U.S. economy, ... The European economy is slowing, but the deceleration is going to be much quicker and harder in the U.S.
bad becoming conditions few main message recovery
The main message here is that the recovery is becoming more fragmented. (But) we should not be misled by a few bad numbers. The conditions are in place for some recovery in the first part of this year.
allowed china currency pressure surprise
It's no surprise that the pressure is back on. At the end of the day, China allowed their currency to appreciate, but because they did so only marginally, there is disappointment elsewhere.
balanced both claim clearly debate sides sure time winner
It was much more balanced than the first debate which Berlusconi clearly lost. This time I think there was no clear winner and I'm sure both sides will claim victory.
job makers order policy properly support
Policy makers are not doing their job properly in order to support the euro.
both demand due largely market oil prices rate recognize remains risk supply vulnerable
We don't see another rate rise, but we recognize that the risk is still there, due largely to oil prices -- the oil market remains vulnerable for both supply and demand reasons,