Cacophony to the ECB: Trichet slap his fist on the table

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Vibram Five Fingers Chairman of the Executive Council of the European Central Bank, Jean-Claude Trichet wants to end as quickly as possible to the cacophony of recent days in his institution. In an interview with the Turin daily? La Stampa? published yesterday, he explicitly took a stand against recent remarks by one of the candidates to succeed him in late 2011, Germany's Axel Weber. Last Tuesday, the member of the Governing Council of the ECB had argued that the bank shall immediately cease any redemption of government bonds and debt securities of euro area banks. For him, the danger of ending? too late? exceptional measures to provide the money market in the euro zone additional liquidity is more severe than the gain? t too t?. Jean-Claude Trichet has decided to cut short the controversy, explaining that the position of Axel Weber did not reflect that supported by a majority? overwhelming? within the ECB council, and recalling the function of this position? Unconventional? :? Restore normal operation of the transmission mechanism of monetary policy. ? He also stressed that the ECB esten password? withdraw from the market all the liquidity created by this program?. The completion of share buyback of sovereign debt is not appropriate for him, and he would liked t question the advisability of making permanent a structure similar to the European Financial Stability (FESF). Renewed confidence Five Fingers shoes Asked Saturday by Thierry de Montbrial, the founder of Ifri (French Institute? Ais International Relations), as part of the World Policy Conference held this weekend in Marrakech, Jean-Claude Trichet, also convinced that no? Central bank governor in the world is appropriate to increase the level of inflation? by lax policies of liquidity. Including the U.S. Federal Reserve. ? I do not think the Fed seeks to inflation?, He said before assuring that? the definition of price stability the Fed is very close to the n? be (less than 2% and close to 2%)?. Echoing one of his most cherished concepts, the ECB president said that the adoption of a policy too accommodative central banks? would have disastrous consequences in pushing up inflation expectations and increasing price volatility?. As a result there would be the? increase in all interest rates, which should incorporate inflation?, a scenario that would represent a? threat to growth?. In his mind, the return of trust is essential for the passage sustainable economic growth and fiscal consolidation policies are not an inhibiting factor for growth, quite the contrary. ? Wise fiscal policies are complementary and not antagonistic to all measures taken to strengthen the recovery?, Concluded Jean-Claude Trichet. Vibram Fingers Flow Vibram Five Fingers Speed Vibram Five Fingers Sprint
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Par mrdear le lundi 18 octobre 2010

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