ECB vp with more comments to Bloomberg
- risks of Fed rate increase and EM shutdown plus low Eurozone growth "will not be a tsunami because we don't expect the effect of the increase in rates in the US will have a direct contagion in Europe"
Let's hope he's right
- "the situation of our economies is different, the fundamentals are different, the monetary policies are different and it will become even more different after that decision when it comes"
Or after the ECB meeting on 3 Dec of course
- "We have inflation which is very low and we want to ensure price stability in both directions, then all the rest is up to the markets to react to our policies which are strictly determined by domestic factors"
- " We dont' have any objective for the exchange ratem, that's very clear"
Ryan had more on that last comment here
ECB's Constancio - no fear of contagion from US rate hikes
