Eurogroup Meetings - no any news.

hello,

Today, there was a meeting of Eurogroup in Brussels. The Eurogroup, the main forum for the management of the single currency area, is an informal body that brings together the finance ministers of countries whose currency is the euro. The Commission’s Vice-President for Economic and Monetary Affairs, as well as the President of the European Central Bank, also participate in Eurogroup meetings.

The Eurogroup’s role is to ensure close coordination of economic policies within the euro area. It also aims to promote conditions for stronger economic growth, as well as to promote financial stability. The Eurogroup usually meets once a month, on the eve of the meeting of the Council of the European Union (Economic and Financial Affairs - ECOFIN).

The Eurogroup adopts its work programme every six months. Each programme defines the main areas of focus and sets preliminary agendas for the upcoming Eurogroup meetings. These agendas are tentative and may change.

OK, so much theory enough. Now we focus on what has been said today.

Of course, as is very often the most attention to the media gave Ewald Nowotny (ECB):

- "the primary objective of the ECB must be price stability";

- "there is no risk of deflation";

- "inflation could be below 2% in 2016";

- "The ECB is discussing, over a wide range of possible actions" (boring);

- "negative deposit rate is one of the possibilities";

- "The ECB does not cut off the deposit rate without lowering the other interest rates";

- "The ECB is still discussing the negative deposit rate, but it is still on its introduction has not decided";

- "is too early to say what factor could decide to introduce a negative deposit rate".

Summing. Any updates. The probably until the ECB's  will not know th new inflation projection for the euro area do not take any decision. At the next meeting of ECB Mario Draghi is in possession of such knowledge, only then we can expect to make a decision.

Important words uttered also Olli Rehn (ECB):

- "recovery in the euro area remains moderate";

- "necessary to further economic reforms";

- "Troika returns to Athens in coming days";

- "In March we will see a new review of the situation in Greece";

- Italy is in the interest of reducing the public debt, I am convinced that Italy will continue to reform fiscal policy".

Today was to be made ​​the return date Troika to Greece. According to the media should be made as soon as possible and should be Troika in Greece to 10 March, at the next meeting of the Eurogroup.

Greece still wants to cut the debt (redemption of bonds issued by Greece), but yesterday Angela Merkel explicitly ruled out such a possibility.

regards,

oscarjp