ECB unchanged at 1.25%

NorfBank

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Just waiting for Trichet to mention "strong vigilance" in his press conference indicating an increase next month.

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But will he ?? The ECB must sometime realise that many countries in Europe are bordering on failing. If he starts using big words, the likely scenario is that these countries will slow further, and therefore effect the big guns such as Germany & France etc. Interesting times to say the least.
 
But will he ?? The ECB must sometime realise that many countries in Europe are bordering on failing. If he starts using big words, the likely scenario is that these countries will slow further, and therefore effect the big guns such as Germany & France etc. Interesting times to say the least.

I would think so.

The primary goal of the ECB is to control inflation, everything else (including encouraging economic growth) is secondary. Inflation for May was 2.7%, the ECB aims for inflation of below 2%. In May it had dropped from 2.8% unexpectedly - probably the reason that rates were kept on hold so they can take a wait and see approach.
 
We'll surely see a continuing rise in mortgage defaults over the next few years. Not good.
 
We'll surely see a continuing rise in mortgage defaults over the next few years. Not good.
Does this not compel the argument for turning around and telling them all to go fish? Concurrently, Sarkozy is vetoing the bailout interest rate being revised downwards.

Time to tell them to sling their hooks. Were the current government not elected on a mandate to renegotiate?
Did they not campaign on the back of this?
What was Labours election slogan?....Labours way - not Berlins way. Once in power (a few Sundays ago) he's saying on national radio that an existing agreement must be honoured?
Likewise, Fine Gael were taking the same approach - with Edna'a token pre-election visit to Berlin a PR job to suggest that he intended negotiating.
 
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