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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (46407)	2/15/2009 1:23:17 AM
From: TobagoJack	Respond to of 218916

start date 1982 january: gold high, t-bill low, stock low end date, 2009 january: gold flat, t-bill high, stock nowhere

To: TobagoJack who wrote (46407)	2/15/2009 2:32:40 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 218916

ECB Trichet: Full Confidence In Euro-Zone Govt Debts ROME (Dow Jones)-European Central Bank President Jean-Claude Trichet said Saturday he is fully confident in the ability of governments in the euro zone to meet their debt obligations. Asked about the rise in the cost of insuring the bonds of some euro-zone countries against default, Trichet said "if you look you will see it goes up and down." "I would say that, the euro area is absolutely not in question in any respect and I have absolutely full confidence that the governments will continue to take appropriate decisions to have sustainable policy, particularly on the fiscal side," he at the end of a two day meeting of finance ministers and central bank chiefs from the Group of Seven leading developed economies. Credit default swap prices have moved higher for many governments during the economic crisis. However, the higher cost of insuring government bonds has been particularly pronounced for Greece, Ireland and Spain. Euro Group President Jean-Claude Juncker said however there is recognition within the euro zone that "we need to remain prudent on the fiscal side." He said while there was a recognition that the economic crisis required large fiscal boosts, "euro member states remain firmly committed to returning to their strong government (debt) positions as soon as possible." Joaquin Almunia, European Commissioner for Economic and Monetary Affairs, reinforced this point, saying that the Commission would speak out if it believed governments were adopting unsustainable fiscal policies. He said there is "a good consensus" about preserving long term fiscal sustainability among all countries "but in some member states also about the need for stepping up consolidation in the short term." Meanwhile, Trichet reiterated that the ECB remains open to the possibility of taking non-standard actions, like quantitative easing. "As you know I have said in the last press conference that I do not exclude additional, non-standard action," Trichet said. He said "no decision has been taken yet." -By Laurence Norman, Dow Jones Newswires; 44-207-842-9270; Laurence.norman@dowjones.com