ECB's Peter Praet calling a win in the fight against deflation
And I thought they refused to call it deflation
- Says ECB cannot coordinate its solutions with politicians
- We need insolvency procedures for states
- Greek banks are under stressful situation but have been assessed as solvent
- Market rates will rise when long term growth recovers
- Euro looks relatively normal in cyclical conditions, we have not seen exuberant movement (that comment was out a while back)
The comments on Greek banks is related to the ELA. He adds that he will not discuss how long this will go on saying that (get this)
"Verbal discipline is of the essence in times of crisis"
I shit you not
