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ECB’s Liikanen: Trusts Greek government will follow-through
By Jamie Coleman || February 9, 2010 at 13:19 GMT
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Finnish ECB rep Liikanen says that he trusts Greece will follow-through on its economic plans. It is very important that countries adhere to Stability Pact guidelines. ECB rates are currently appropriate, Liikanen said.
Also crossing the wires are comments from the Greek PM. He says the priority is to rescue the economy and reduce debt. Speeding up the economy is required, otherwise the costs of the crisis will be higher.
Greek rate spreads are tightening, down to 313 bp from over 400 bp last week. This is helping give the EUR a boost.
Greek banks up almost 7%, composite up 4.5%