- 2012 was the year of the Euro relaunch
- LTRO’s help avoid a credit crunch
- OMT has been very helpful in removing risk to the euro
- Still need to see further improvements in the economy
- Too soon to declare satisfaction, the Jury’s still out
- Most important objective for this year is to overcome fragmentation in financial markets
- Markets have a new sense of relative tranquility
- Sees economic recovery later this year, curerently stabilizing at a very low level
- Inflation expectations are solidly anchored
- 2013 is the time to put plans into action
- ECB policy accomodation will help, OMT will remain in place as long as needed
Bloomberg/Reuters reporting