ECB’s Noyer: Eurozone is more robust than a year ago

Some comments from the ECB’s Noyer, who is speaking in New York:

• Cyprus was a unique case
• Cyrpus rescue was a ‘traumatic episode’

What are the odds that he says ‘Cyprus is not a template’?

Update: He said it!

More comments:

• Inflation is ‘firmly under control’
• Lack of lending to small firms a ‘major concern’

I’m starting to believe the ECB’s next move won’t be a rate cut but rather some type of more creative program to stimulate lending.