ECB to unwind support for banks

The European Central Bank’s emergency financial market support measures are set to be unwound from December 2009 after Jean-Claude Trichet, ECB president, rebuffed International Monetary Fund calls to err on the side of delaying 'exit strategies'.

On the 4 March 2010 the ECB said 'In view of economic and financial market developments, the Governing Council of the European Central Bank has today decided to continue the gradual phasing-out of its non-standard operational measures'.

ECB: Press Release, 4.3.10: ECB announces details of refinancing operations with settlement up to 12 October 2010 http://www.ecb.int/press/pr/date/2010/html/pr100304_2.en.html

ESO: Background Information: ECB spurns IMF with early exit strategy http://www.europeansources.info/record/ecb-spurns-imf-with-early-exit-strategy/

---