Trichet on Greek crisis: "Rating agencies knew better"

As expected by analysts, the Governing Council of the European Central Bank (ECB), which was held in Lisbon, decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 1.00%, 1.75% and 0.25% respectively.

At his monthly press conference, Jean-Claude Trichet, ECB President, did not unveil any new measures to ease the debt crisis threatening the eurozone. He also downplayed risks that Greece's crisis would infect Spain or Portugal.

ECB Governing Council did not discuss buying government bonds nor the need to create an orderly default mechanism for the eurozone, as urged by some EU Member States.

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[galerapesada]

@IowaArmen I guess the fact that it's a democratic institution and also everything else

[MegaRiedel]

useless person

[sollycardy98]

@unincorporated1 LMAO If Europe is dying, America has been burnt to ashes.

[unincorporated1]

Portugal, Ireland, Greece, and Spain will bring you down Europe, The Euro is finished... LONG LIVE AMERICA THE BEAUTIFUL!!!

[IowaArmen]

EU,Third Reich---what's the difference?

[guiwhiz]

I'll bet you the Dow sell-off was all institutional stuff from Europe trying like hell to raise cash. The balance sheet giveth and the balance sheet taketh away. Not too worried honestly myself. In fact, I think it has been coming for at least 6 weeks now. The Dow was 'over-priced' in the global circumstances while employment numbers in the USA didn't justify that much enthusiasm. Still, I'll bet we get back all of it and more by the end of May.

[Athenaikos]

If more fiscal responsibility is now demanded of EU members, wouldn't that affect the speed of the recovery by restraining the public sector?

[clock2012]

Dow Jones Crahsed!!!

[arikat1]

@curzond f@#$ the 20th century history man

[curzond]

Pigs is what the Nazis called their 'inferiors'.