China said over the weekend it is close to its goal of allowing the yuan to be exchanged for foreign currency without any limits on the amount. That will promote a new surge in Chinese overseas investing by “qualified domestic institutional investors”.
As the Greece crisis deepened – if that were possible – the run on their banks is accelerating. And the ECB is stepping in to shore them up, even though Athens continues its defiant tone. How this will all end is still still uncertain.
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