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- ECB's Draghi: “Monetary policy can not do everything. We are targeting funding constraints among banks”
ECB's Draghi: “Monetary policy can not do everything. We are targeting funding constraints among banks”
Need a firewall big enough to fight temporary instability
EFSF bank license would be effort to circumvent the EU treaty
ECB's monetary policy is accommodative
Refinancing needs mean bond market pressure is unprecendented
ECB does not have FX objective, not in our mandate
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