Forex Flash: Current account imbalances at heart of global crisis – Merrill Lynch

By FXstreet.com,  August 13, 2012, 10:11:00 AM EDT

FXstreet.com (Barcelona) - Merrill Lynch expect the global 2012 GDP growth to be of +3.4%, with the world mostly shrugging off Europe's undergoing mild recession, which debt deflation collapse and currency break-up fears push Brent crude oil prices lower, risking $60/bbl for years.

"Global current account ( CA ) imbalances are at the heart of macroeconomic imbalances, driven by a pegged Yuan, Eurozone dislocations, and high oil prices", wrote the economists, stating that the peripheral Europe is now dependent on oil it cannot afford.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks: CA



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