Vulnerability inherent in global financial markets

Group of 20 defuse 'currency war'

Fragile is the inherent capacity of financial institutions in the euro area, even if the probability of collapse was unlikely to some extent in the current period.

Said Gary Dugan, president of investments in private banking at Bank «Emirates NBD, of course, the news media focused mostly on the position of the United Kingdom did not payattention to the fact that European politicians have not succeeded so far in the submission of a plan is able to change the direction of the crisis radically; REGION euro is stillburdened with massive debt that will continue to impact next year.

All that made ​​the European summit is just limited steps toward the solution, which is small steps do not live up to the giant leaps required. We believe that the pace of the crisis will remain related to the reaction of the market, not the strategies adopted by policy makers.Hence, we renew our advice to exercise caution.