We have had Villeroy and Visco on the newswires with more communication that there has to be support from fiscal policy to keep the recovery alive:
- monetary policy can not be left alone in supporting the recovery, can not be the only game in town
- there is a ’trust issue’ among the countries
- ECB is tackling ’strong deflationary pressures’
These are further hints that ECB is becoming concerned that it has not much more to offer to support growth. some EUR losses seem natural after such communication.
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