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1.Market Observations

29 Nov 2013 (AFR, FinTimes) – ECB warns over taper threat – warns on external risks to eurozone financial system

(29 Nov 2013, AFR, p24, Claire Jones and Sam Fleming in London and Robin Harding in Washington)

‘The European Central Bank on Wednesday issued a stark warning over the threat posed by the scaling back of US monetary stimulus, calling on eurozone policy makers to do more to prepare for the market shocks from Federal Reserve “tapering”. In its latest financial stability report, the ECB said the risks to the eurozone’s financial system from outside the currency bloc had grown since May due to the Fed’s talk of scaling back its $85bn of monthly bond purchases – despite a general improvement in market conditions.’

Read more at FT.com

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