After saying Thursday that the ECB had not even discussed buying euro zone bonds, Trichet says today they have begun to buy them and will do what is necessary.
He then says the ECB is fiercely independent and decisions taken over the weekend were not as a result of pressure of any sort. It is interesting to note that the decision to buy bonds was not unanimous, but by “overwhelming consensus”. In a system where Malta and Cyprus have the same power as Germany…
Naw…of course not… Mon dieu…
EUR/USD dipped below 1.290 to trigger stops and now trades at 1.2910.
