WHEN: TODAY, THURSDAY, APRIL 7TH
WHERE: CNBC'S "SQUAWK BOX"
Following are excerpts from the unofficial transcript of Jim O'Neill, Chairman of Goldman Sachs Asset Management, on CNBC's "Squawk Box" today. Following is a link to the full video on CNBC.com: http://video.cnbc.com/gallery/?video=3000015365. All references must be sourced to CNBC.
ONEILL ON THE EURO:
"THE MARKETS HAVE BEEN SOLD BY THE ECB A MONTH AGO- THEY ARE GOING TO HIKE- AND THAT'S WHEN THE EURO HAS REALLY RISEN AND AT THE SAME TIME THE FED HAS BEEN SO FRIENDLY AND THE BOJ HAS DONE EVEN MORE SO THE EURO HAS PRIMARILY RISEN FOR THAT REASON."
ONEILL ON THE ECB:
"I DON'T REALLY THINK THE ECB SHOULD BE IN SUCH A RUSH TO RAISE RATES, I THINK IT'S ANOTHER PART OF THE INSTABILITY, YOU KNOW THE ECB IS ALWAYS EAGER TO DEMONSTRATE ITS INDEPENDENCE AND OF COURSE INFLATION IS THREATENING THEIR NARROW TARGET."
ONEILL ON CHINA:
"SINCE THE CHINESE CAME BACK FROM THEIR OWN NEW YEAR, THE CHINESE STOCK MARKET HAS BEEN ROCK SOLID, AND I SUSPECT FOR ALL THOSE PEOPLE THAT CLAIM ALL OVER THE WORLD THEY ARE WAITING FOR THE RIGHT OPPORTUNITY TO SELL OFF AND INVEST IN THESE PLACES, YOU'VE HAD YOUR OPPORTUNITY AND IF PEOPLE DON'T SEIZE IT SOON THEN THEY'RE GOING TO BE PAYING HIGHER PRICES."
ONEILL ON GERMANY:
"IF YOU LOOK AT WHAT'S GOING ON WITH GERMAN POLITICS, IT'S JUST GETTING MESSIER AND MESSIER WITH THIS VERY IMPORTANT ELECTION LAST WEEK TAKEN BY THE GREENS. IT PUTS REAL FRUGALITY ON THE COALITION AND IT GREATLY LIMITS A LOT OF THINGS THAT ANGELA MERKEL CAN DO INCLUDING THE UNPOPULAR BUSINESS OF SUPPORTING THE REST OF EUROPE FINANCIALLY."
ONEILL ON SPAIN:
"WHAT HAPPENS I GUESS IN THE NEXT COUPLE OF HOURS IS OBVIOUSLY GOING TO DOMINATE EVERYTHING TO DO WITH THE EURO FOR THE REST OF THE DAY AND MAYBE TOMORROW AND NEXT WEEK, MY SUSPICION IS IT SO WELL DISCOUNTED THAT WE WON'T GET ANY FURTHER STRENGTH IN THE EURO FROM THIS PARTICULAR MOVE; WHAT WILL THEN DRIVE THE NEXT MOVE, I GUESS, IS THE RELATIVE DATA IN EUROPE AND THE US AND WHAT HAPPENS WITH SPAIN."
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