The Three Eurostooges Hit The Tape Ahead Of The Polish Ecofin Meeting

As the Eurozone prepares for the Ecofin meeting in Poland, where the consensus among Unicredit, Barclays, and BNP analysts and pretty much everyone else is that there would be a discussion for the EFSF to be leveraged under a TARP-like solution, the three Eurostooges, Juncker, Rehn and Trichet have hit the tape with various soundbites. Here is the European partyline which luckily never changes.

  • EU's Juncker says all Eurozone members now signed amendment to EFSF allowing more flexibility
  • EU's Juncker says there are clear signs of a slowdown in global growth, and financial turmoil adds to tensions facing global economy
  • EU's Juncker reconfirms determination to fully implement July 21 decisions
  • EU's Juncker says need growth friendly fiscal consolidation
  • EU's Juncker says Eurozone finance ministers continued full implementation of adjustment plan remains crucial
  • EU's Juncker says Irish and Portuguese adjustment programmes are well on track
  • EU's Juncker says will decide on disbursement on next aid tranche for Greece in October
  • EU's Junker says Euro-zone finance ministers welcome Greek commitment to programme and new measures
  • EU's Juncker says Eurozone finance ministers agreed on pricing of future EFSF loans
  • EU's Junker says don't see room for manoeuvre for new stimulus in Eurozone

  • EU's Rehn says slowdown of economic recovery in Europe and elsewhere requires stronger political determination than ever
  • EU's Rehn says quarterly growth profile has reduced significantly, and return to recession is not expected
  • EU's Rehn says France, Italy, Belgium and Spain have all ratified more flexible EFSF
  • EU's Rehn says Greece has expressed strong determination to meet all commitments

  • ECB's Trichet says balance of risk for growth is on the downside
  • ECB's Trichet says essential all decisions on July 21st are implemented rapidly
  • ECB's Trichet says full substantiation of all Greek targets is essential, calls for full implementation


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