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Trichet Says Market Jitters Forced Ecb's U-Turn On Bonds

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http://www.guardian.co.uk/business/2010/jun/10/trichet-ecb-uturn-uk-rates

Jean-Claude Trichet said today that the European Central Bank (ECB) had been forced into its abrupt U-turn on buying government debt by fears of a second global financial seizure as he warned that Europe faced a long and bumpy road to economic recovery.

The president of the ECB said the decision to buy bonds less than 24 hours after the central bank ruled out such a move had been caused by a sudden deterioration in market conditions. It was, Trichet said, a "major event that was threatening the functioning not only of the European economy and market, but also of global finance and the global economy."

Speaking after the ECB left its key interest rate unchanged at 1%, the ECB president said the crisis in the eurozone would dampen growth prospects in 2011. "We expect the euro-area economy to grow at a moderate pace in an environment of continued tensions in some financial market segments and of unusually high uncertainty," he said.

The ECB now expects growth of between 0.2% and 2% in 2011 following expansion of 0.7% to 1.3% this year. "Compared with March 2010, ECB staff macro-economic projections, the range for real GDP growth this year has been revised slightly upwards owing to the positive impact of stronger activity worldwide in the short run, while the range has been revised somewhat downwards for 2011, reflecting mainly domestic demand prospects," Trichet said.

So in 24hrs it's proved the ECB are completely clueless. We don't see any danger, crap we see danger.

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http://www.guardian....-uturn-uk-rates

So in 24hrs it's proved the ECB are completely clueless. We don't see any danger, crap we see danger.

Logic dictates, if you follow the right course, you will see a correction.

what the bond markets DONT want is a correction.

the ECB bottled it.

none of the leaders have a pair. except maybe Merkel

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George Soros was right then. It is much worse than we are being told and Act 2 of the tragedy is about to begin.

Who wrote the script for it? Who is directing it?

Are we spectators or are we part of the play too?

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So in 24hrs it's proved the ECB are completely clueless.

Ah, but we've known that for a long time.

Raising rates in July 2008 was an act of pure, unadulterated lunacy.

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George Soros was right then. It is much worse than we are being told and Act 2 of the tragedy is about to begin.

We are through the adverts and the credits are rolling. Who is in this epic, along with George? Dr Faber stars I think?

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Printy printy!

On the topic of hyperinflation, I enjoy watching the posting count competition between Injin an Bloo.

Injin in the lead by about 600 posts atm.

I guess with Injing postin his usual "printy printy" in overy other thread, poor Bloo doesn't stand a chance :rolleyes:

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On the topic of hyperinflation, I enjoy watching the posting count competition between Injin an Bloo.

Injin in the lead by about 600 posts atm.

I guess with Injing postin his usual "printy printy" in overy other thread, poor Bloo doesn't stand a chance :rolleyes:

And Ive been here longer.

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On the topic of hyperinflation, I enjoy watching the posting count competition between Injin an Bloo.

Injin in the lead by about 600 posts atm.

I guess with Injing postin his usual "printy printy" in overy other thread, poor Bloo doesn't stand a chance rolleyes.gif

thats post inflation for you....

typey typey....

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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