Sunday, November 27, 2011

Bank of France's Noyer Speaks, Says Europe Is In A "True Financial Crisis"

In case anyone was wondering why the EURUSD is back to levels from several hours ago and well off the ramp highs (with ES continuing to pretend nothing matters), it is due to Bank of France Governor Christian Noyer who speak the following bullet points at a forum in Tokyo:

Crisis Has Worsened Significantly
Market stress has intensified and Europe is in a “true financial crisis,”

In other words precisely what Zero Hedge readers have known all along, the same as this article from the

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