Greek tragedy.
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RBNZ Governor Bollard took to the stage, and his speech was interpreted as an endorsement of market pricing of a June OCR increase.
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Equity markets have plunged globally, with the US S&P500 index erasing all of its 2010 gains.
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The hastily arranged encore to the week’s dramas was an emergency meeting of European Union finance ministers over the weekend.
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Report Prepared by:
Christina Leung
ASB Economist
Phone: +64 9 369 4421
Fax: +64 9 302 0992
