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FBN's Ashley Webster on the upcoming ECB interest rate decision and its faceoff with the German National Bank.
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Let's go across the time ECB president Mario Draghi says the ECB will do whatever it takes to save the Euro -- we've kind of heard this before.
So should we expect to see the ECB act as early as Mara asked Webster has bid in Frankfurt Germany joins us now -- -- They -- well the F we've just heard from the Fed -- essentially as standing pat.
Saying that yes the economy is getting -- well we cut but certainly we are going to.
Basically keep our interest flow through at least 2014.
If we got back kind of response from the ECB tomorrow afternoon -- in -- I think it's we have very negative market reaction to that is you said.
Mario Draghi president of the ECB's saying -- while we'll do whatever it takes.
But you know what there's a growing suspicion that perhaps the announcement -- tomorrow afternoon local time.
Could indeed disappoint the markets the ECB I guess they could say -- -- stop buying those five Italian and Spanish bombs -- -- already.
The Germans and certainly the Bundesbank is that -- that is not the ECB's mandates that we have this -- this this kind of the match going on right now between.
Mario drug ABC big.
And I -- a -- -- a president of the Bundesbank and there is little bit attention that the ECB could go ahead and do whatever it wants because.
Statement is just one of 23 votes but getting the support of the German Central Bank would be very important it would add credibility.
To the easy B I would just -- three to this quote from my yen's Friedman earlier.
Which really kinda puts it all into perspective for year he said.
Look and what is -- politically desirable what is economically prudent.
Have often.
Not matched up in other words politically it may sound good -- You know economically.
And certainly from the German point of view it is not good economic policies so we'll see -- the market be disappointed tomorrow afternoon.
But we're gonna find out pretty soon guys back to you.
As US seem report -- -- -- -- -- you -- Germany -- him a little credit for hold tight.
They have throughout all of this and one that they don't want patents I don't blame them and we'll see what the ECB comes up with tomorrow our feet is in Europe's.
