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Eurointelligence Daily Briefing: Not vigilant, with risks finely balanced
Trichet signals no rate rise in June, and says risks are finely balanced; euro falls some 4 cents on the news; Trichet also said he is not committed to the notion of interest rates normalisation in contrast to other central bankers; yesterday also saw a broad-based crash in commodity markets, with oil prices down some 10- cents; EU and IMF officials say Portugal's programme was tough but fair, and that the interest rate will be similar to the one of Greece; German politicians want countries subject to financial help to sell their gold reserves; Brian Lenihan blames ECB for forcing Ireland into a bailout; German bank levy is about to flop; leaks suggest that German tax revenue will grow strongly in the next few years; Fillon calls for iron discipline in the French budget; Dominique Seux says Christine Lagarde should be considered as a potential successor to Dominique Strauss Kahn at the IMF; Argentine's central bank governor Mario Blejer, meanwhile, calls the European financial rescue stragtegy a Ponzi scheme.
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Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Fri May 6th, 2011 at 04:11:17 AM EST

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