Reuters Asks: How well has ECB emerged from Cyprus crisis?
Wednesday, March 27, 2013 - 02:15
Mar. 27 - Few, if any of the principle players in the Cyprus crisis have emerged with their reputations untarnished. Does the same apply to the ECB?
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I'm also -- that that via CB roll has been compromised I think these TV made it quite clear that that that the bank is not willing. To wait indefinitely I think it would have been a mistake -- the ECB would have simply said okay. Had -- -- it is go on and ended today if it is difficult to find an easy solution rather quickly. I think that ECB. Has become what is required -- it's pledging support now to Cypriot banks but. The bottom line is this is -- political argument the northern juvenile Europeans and the Germans in particular. -- won't be seen as alike tops and that they will back backstop any kinds of our recklessness. BCB. He's as a -- Is expected to provide liquidity once -- political agreement is in place. I mean is you be doing now and something out so. They themselves are moving directly tarnished but relative rankings. Knew what refusals things our house drops significantly behind out of the politicians got a political timetable or agreement. And it just DC people incident it's that line tonight I just don't see. How they come out of this looking. Anything other than bad frankly if they would sorry to political pressure to be an independent study demonstrates -- of those things being independent stupid what -- -- He has come out here as has been. It -- its political side it is very much have very you know have a very important player in the negotiations. On how to restore some Cyprus and banking system and and I don't think. But that's a very positive song. With a head of the Euro agreed coming out talking about ten plates for Cyprus. Potentially being replicated in other countries namely Spain and Italy -- the most likely countries it has sent a little bit of panic amongst the -- the trading community. And I think a clearer picture a concise picture on a unified. Statements. And it's sound night. From the ECB is really needed just to clear up the uncertainty that overhang the market.
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