Thursday, February 04, 2010

Trichet: There will be blood

Trichet affirms the EU's position that member states are on their own regarding austerity measures taken in response to excessive debt.

The ECB has one mandate: price stability. Growth figures amongst the several nations are not its concern.

We will see how long that lasts.

But hey, he is "confident" 400 million people in the Euro area have that going for them.

Feb. 4 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said he’s confident Greece can get its budget deficit under control and signaled officials have no plans to raise their key interest rate from a record low of 1 percent.

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