There is an opposite act between ECB and Bank of England, European Central banks take action over growth, Central
banks in the eurozone and China took action to boost growth by cutting
borrowing costs, while the Bank of England injected extra liquidity, Central banks miss another opening, Moves
by the ECB and BoE fall short of the real credit boost their economies
need. Monetary policy in Europe must do more to boost credit and macro economics growth
Respons the ECB act, Euro single currency being the big loser after central banks intervene, Interest
rate reductions and emergency bond buying by ECB and two others see the
single currency tumble against all its big rivals
Meanwhile latest update from Greek debt crisis, Greece drops demand to ease bailout terms
Government drops plan to seek softer terms for second bailout after warnings it would be rejected by international lender, of course because there is no more money for Greek
By the way, Weidmann warns Merkel over weakening, Germany biggest banks, Bundesbank president tells the
German chancellor that the bloc is mutualising risks and weakening
agreed rules, criticising last week’s summit actions
From Rome Italy we reporting, Draghi running out of wriggle room, European Central Bank
council unanimous on measures which leave quarter-point reduction as
perhaps last rate cut before moving into more unconventional territory
