- ECB’s position on euro zone debt problems has not changed due to French plan
- ECB will take position after govts present their plans on Greece
Oh-eh………
- When we have a proposal from govts on Greece we will compare with earlier stance of ECB council
- Important that Greek democracy takes appropriate action on austerity measures and creating growth
- We are in strong vigilance mode on inflation (ie we’re still going to raise rates in July – well that’s how I read it)
- We are very united on goal of solidly anchoring inflationary expectations at global level
EUR/USD has bounced back as Trichet’s strong vigilance comment hit the wires, presently at 1.4271 having earlier posted 1.4237 session low.
