DislikedThe problem is that they can't PR the euro down right now with BS statements, becasue that would kill the periphery right away, they need an orderly solution, one option would be to drop interest rates again in the fall, that would drop the euro, would improve the numbers from Germany, which in turn would drop their rates and then it would become more appealing to bail out the others, even increase the EFSF and issue eurobonds. Trichet put a spanner in the works with him raising the rates. The good thing for them right now is that EFSF is not rattified...Ignored
They don't need to sterilize all especially in the "short term" but they are creating a mess (not the ECB, they are doing their job) but the lack of political and technical solutions at the EZ national government level. They are in hope mode more than in do mode.
sisse
Pending conversations? PM for a chat...I am mainly in OTM now