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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: zonder who wrote (25639)3/15/2005 10:19:08 AM
From: mishedlo  Read Replies (1) of 116555
 
Trichet says weakening of stability pact would change ´environment´ for ECB
[A negative reaction such as a selloff in the Euro? Mish]
Monday, March 14, 2005 3:49:45 PM
afxpress.com

Trichet says weakening of stability pact would change 'environment' for ECB BRUSSELS (AFX) - European Central Bank president Jean-Claude Trichet said any weakening of the EU stability and growth pact might trigger a negative reaction in financial markets and would also change the "environment" for ECB interest rate decisions

"Our life will be totally different if the result is a good result or if it is a bad result. Our responsibility will be exerted in a different environment," he told the European Parliament economic and monetary affairs committee.
[What the F does this supposed to mean? mish]

But he declined to specify how the ECB would react to changes in the pact which are currently being discussed by EU finance ministers

"We will make our final judgement on the basis of the final decision that will be taken," he said

And he said markets could react negatively to any softening of the pact although he said the ECB's commitment to price stability could help provide reassurance

"I think that the credibility of the ECB might play a role in convincing markets that they can trust us whatever happens in the realm of the stability and growth pact," he said
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