Ecb: Recovery Still Slow

By Author: Italo Zanotti
Total Articles: 62
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Economic recovery in the eurozone has left, but it is a round moderate, uneven and, in particular, still subject to many uncertainties.
Inflation is also still under review, and as expected, interest rates remain firm at this historic low of 1 percent that the European Central Bank (ECB) keeps them riveted for the past 10 months. Rates detentions in particular to enable the economy of the area to resume running. It is a picture of what happened in the usual monetary policy meeting held yesterday all'Eurotower Frankfurt, during which the European central bankers reaffirmed their intention to gradually fall from extraordinary measures to support economy . And have examined the delicate situation in Greece. To give a measure of lack of uniformity of the growth trends of various countries who are part of the new euro zone growth forecasts stoned yesterday by the President of the European Central Bank Jean-Claude Trichet: For this year's domestic product Gross is expected to rise in a band ranging between 0.4 percent and 1, 2 per cent, while in 2011 the growth range, revised upward, he will be between 0.5 percent and 2.5 percent. ...
... For its part, inflation, however, will fluctuate within a range between 0.8 percent and 1, 6 percent this year and between 0.9 percent and 2.1 percent neighbor. The court reaffirmed once again by Jean-Claude Trichet is therefore that the current level of interest rates remains, given the situation, "appropriate." But the governments of member countries of the euro once again reiterate the request to seek to restore their financial statements in compliance with the requirements of the Stability Pact (the Maastricht criteria) and to accelerate structural reforms, in particular that of public spending. Inevitable-able even the reference to the Gre-cia. "I have already said that the hypothesis that the country leaves the euro area is an absurd hypothesis and confirm," said the number one European Central Bank reiterated also positive about the improvement measures of Athens that was expressed officially yesterday by the same institute. "The Council of the ECB considers positively the decisions taken by the Greek government" and deemed "compelling." At its meeting yesterday the European Central Bank also decided unanimously to scale the size of some measures that have allowed in recent months to expand the credit to the economy. One of the main steps taken in this direction will be that, as of the end of April, in the operations and repurchase three-month returns from fixed interest rate that varies. In this way, making it more expensive for banks to take money on loan from the ECB, it will be possible to drain liquidity from the market.
Trichet has not commented yesterday that the euro is under pressure for several weeks because of uncertainty because of the accounts of Greece.
Photo: Eurotower Frankfurt. Other news in http://www.italo62.blogspot.com