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Koczot, Stanisław

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Dziennik Gazeta Prawna - Poland | 11/03/2011

Euro countries must solve monetary crisis

The heads of government of the 17 euro countries meet today in Brussels to discuss a solution to the monetary crisis. They will have to find one quick, warns the daily Dziennik Gazeta Prawna, because the European Central Bank (ECB) has indirectly threatened to raise interest rates: "Last week the president of the ECB, Jean-Claude Trichet, poured a bucket of cold water over the financial markets. When he unexpectedly used the term 'strong vigilance' [regarding inflation] during a press conference, the analysts' blood ran cold. Economists remember very well that whenever the Central Bank speaks of a trend of rising inflation and 'strong vigilance', interest rates have gone up. The analysts immediately understood what was at stake. But have the politicians also got the message? They should, because it was above all directed at them."

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