ECB 'climbdown' boosts markets
Written by Simon Tilford, 01 December 2010
Simon Tilford, chief economist at the Centre for European Reform, said: "As it stands ... a number of member states are effectively insolvent and caught in a vicious circle. The collapse of economic growth has devastated tax revenues, while deflation threatens to push up the real value of their debts."
Link to press quote:
http://www.guardian.co.uk/business/2010/dec/01/european-central-bank-lifts-markets
