ECB to intervene decisively on markets - source
LONDON |
LONDON Aug 7 (Reuters) - The Euro system of central banks has decided to intervene decisively on markets to respond to the escalating debt crisis, a euro zone monetary source said after a European Central Bank conference call on Sunday.
Officials on the conference call carefully considered the situation in Italy and Spain, and took note of a statement by France and Germany which stressed their commitment to European financial reforms, the source said.
"The Euro system will intervene very significantly on markets and respond in a significant and cohesive way," the euro zone monetary source said, adding a statement by the ECB will be issued shortly. (Editing by Sophie Hares)
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Comments (1)
LynCe wrote:
Trichet will be gone when the fallout hits the fan (retiring in November).
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