ECB exec board member out on Reuters

  • it is imperative therefore that we fulfil our mandate by keeping inflation below, but close to, 2%
  • at the moment there is no such confidence in Europe's ability to fully reap the economic benefits of our monetary union and ensure stability and growth in the Eurozone
  • we must be clear however that the Eurozone is an irreversible project not just simply a fixed exchange rate system
  • exit of a member country would inevitably lead to conjecture on who would be next, and with all the potential destabilising effects that such speculation could entail

EURUSD has held onto that strong 1.1275-80 area I've been highlighting and currently 1.1298

Benoit Coeure -