ECB sticks to its plan for ‘exit strategy’

The European Central Bank is still looking to phase out emergency support for the eurozone financial system, Jean-Claude Trichet, its President made clear on the 7 October 2010, even as strategic differences with the US Federal Reserve sent the euro sharply higher.

The ECB would decide by the end of 2010 on the next steps in its 'exit strategy' to unwind action taken after the collapse of Lehman Brothers, Mr Trichet said.

ECB: Press Release, 7.10.10: Introductory statement Jean-Claude Trichet, President of the ECB, Vítor Constâncio, Vice-President of the ECB Frankfurt am Main, 10 October 2010 http://www.ecb.int/press/pressconf/2010/html/is101007.en.html

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