ECB DRAGHI: EMU inflation well contained, money growth subdued

Market news

7 November 2012

ECB DRAGHI: EMU inflation well contained, money growth subdued

- Econ,fin situation in the EMU remains challenging

- EMU growth expected to remain weak in near term

- EMU unemployment is deplorably high

- Fiscal consolidation progressing well in most countries

- ECB OMT clear signal to mkt: EMU break-up fear baseless

- Unlimited omt does not mean uncontrolled

- OMT conditionality is important

- Fin union dsn't have to mean pooling deposit guarantees

EUR / USD fell to a new low of $ 1.2743 after dropping the European Commission forecasts and ahead of a vote in the Greek Parliament

European stocks advanced

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