Eurozone hopes dashed as ECB squashes QE
This week’s Eurozone crisis summit is unlikely to satisfy investors and end the volatility that has paralysed markets in recent weeks, bond players said on Thursday afternoon. Key steps including committing to an aggressive European Central Bank buying programme, clarifying fiscal union and transforming the European Financial Stability Facility into a bank seem remote amid continuing political wrangling.
"As the discussions involve treaty changes that may or may not be agreed on and, if they are, will take months and months to implement, I doubt anything will emerge in the next couple of days that will give markets much confidence," said one senior DCM banker.
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