Vladimír Urbánek (Kurzy.cz)
Markets  |  September 17, 2012 09:18:06

ECOFIN meeting yielded virtually no tangible results

Friday and Saturday Ecofin meeting in Cyprus yielded virtually no tangible (public) outputs. In the words of Austrian Finance Minister Maria Fekter While Greece gets time to fulfill the commitments more time, it certainly will not be a "year or two, more than a few weeks." If we stay in Austria, the local head of the central bank and a member of the ECB's Ewald Nowotny for weekly profile reiterated that Spain to qualify to buy bonds on the secondary market, they must ask for a complete bailout. Spain is only at one side of this step is still vehemently defends, on the other hand at the end of last week announced that by the end of September published a new program of austerity. This may indicate that the bailout takes concrete form.
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