Flash: ECB victory over Euro system ? – Societe Generale

FXstreet.com (London) - Kit Juckes, head of currency strategy for Societe Generale asked, “Remember all that 'whatever it takes' stuff?”.

Key Quote:

“ Well, now the ECB seems ready to declare victory in the fight against the collapse of the Euro System, and focus on 'not being Japanese'. That is, they don't want banks to use cheap liquidity to buy governments bonds and forget to lend money to the real economy. Of course, 'not being Japanese' may also mean not having a ludicrously expensive currency, but that's for another day, or week, month or even year....”