• We can begin 2013 on a more confident note
  • Many countries are making ‘solid progress’ in public finances
  • Adjustment will remain for some time to come
  • ‘There is simply no evidence that could substantiate fears about any deviation from price stability’
  • Confident Europe will continue to make progress
  • ECB has show its commitment to do what is necessary to safeguard the euro

Nothing notable in the speech but it is a tad upbeat. No reaction from the euro.