Author: Mike Paterson

Quoted this morning at a conference in Spain the ECB vp said

"We have to persist in our policies as promised, given that these encouraging projections are predicated on the full implementation of our purchase programmes until next year"

Sticking to the ECB mantra but added that policy interventions always carried side-effects but that no "generalised overvaluations" in European markets had been identified

On Greece he said that the effects on banks from a Greek default is not yet clear

If Greece missed a debt payment, the impact on Greek lenders, which are heavily exposed to the country's sovereign debt, would have to be assessed he said

"I'm not expecting it to happen. But for banks, the consequences cannot be predicted at this stage"

The sorry saga continues

On a happier note have a great week-end everyone, and make sure to get some rest ahead of another nutty week!







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