Just not looking hard enough.

  • Money markets normalising, but not yet normal
  • Markets “perhaps” overreacting on sovereign risk, Irish concerns (is it me or is “perhaps” just a little tentative)
  • Situation with Portugal, Ireland not to be compared to Greece
  • Sees positive GDP growth in Q3, but not same pace as in Q2
  • No precommitment on exit strategy timing
  • ECB’s objective is to go back to normal operations