Is the EU Doing Enough to Aid its Members?
"There is no final decision on whether there will be an extension on the EU emergency fund, we have to work on this," Kinga Goncz, Hungary's Foreign Minister told CNBC. She also gave insight on whether the EU is doing enough to help struggling European economies.
EU Has to Take Responsibility for the Future
"It is important to send a clear message that we will be responsible for fiscal policy and the we would also do what we can to mend the problems in the world economy," Anders Borg, Sweden's Finance Minister told CNBC. He elaborated on the role of the European Union.
Bailing Out Eastern Europe
There's no doubt that Germany and France will need to bail out Eastern Europe, says David Roche, global strategist at Independent Strategy Ltd. But it is likely to be done in conjunction with the IMF and World Bank.
Bank of Hungary Holds Rates Steady
"Letting the currency (Hungarian forint) depreciate more would risk serious problems for the banking system, and it's not like Hungary has money to bail them out," Bartosz Pawlowski from TD Securities said after Hungarian interest rates were left on hold Monday.
E. European Currency Slump Coming
Eastern European currencies need to fall by between 25% and 30% to provide the basis for a recovery, Roger Nightingale from Pointon York told CNBC Monday. Such a slump is likely to occur, Nightingale added.
More Euro Weakness in the Near Term
Concerns about Western European banks exposure to Eastern European economies will continue to weigh on the euro in the near term, notes Emmanuel Ng, currency economist at OCBC Bank.
Forex Markets Driven by Risk Aversion
John Noonan, senior FX analyst with Thomson Reuters, says the tension in forex markets is shifting to the Eastern European debt crisis, where Western European banks have huge exposure. He discusses the factors that drive currency trading this week.
Nordic Banks Take Strain on E. Europe Exposure
Nordic banks, especially Swedish banks, are in trouble due to their exposure to high risk Eastern European and Baltic markets, according to Christian Blaabjerg from Saxo Bank. He sees Swedish banks writing down a further $9.1 billion.