The members of the ECB governing council are proving to be some of the people not as convinced by the economic recovery as the markets are. This time it’s France’s Noyer who says that fuctioning of markets has not been fully restored and that the key challenge is restoring confidence amid uncertainty. Following on from the dovish comments from ECB’s Vice President Papademos this morning, we maybe seeing a concerted effort by the ECB to talk down the rise long term interest rates which threaten to strangle the nascent Eurozone recovery.