*ECB’S BINI SMAGHI SAYS THERE’S NO `ALTERNATIVE’ TO REFORMS

Yes there is

*BINI SMAGHI: CENTRAL BANKS CAN’T SHORE UP CAPITAL IN BNK SYSTEM

Yes they can

*BINI SMAGHI SAYS CENTRAL BANKS CAN’T PROVIDE SOLVENCY SUPPORT

Yes they can

*BINI SMAGHI SAYS MON POLICY CAN’T TAKE UP FISCAL `SLACK’

Correct!!!

*BINI SMAGHI: PRICE STABILITY `CRUCIAL’ FOR FIN MKT STABILITY

No it’s not

*BINI SMAGHI SAYS ECB TO SUPPORT NATIONS IF THEY STICK TO PLANS

Contradicts above statements?

*BINI SMAGHI SAYS NATIONS MUST STICK TO ADJUSTMENT PROGRAMS

Or else!

And now: *ECB’S GONZALEZ-PARAMO SAYS BANKING SECTOR FACING CHALLENGES
This story counters the negative talk a little- ECB may have more leeway.

Meanwhile the Greek market is better today, helped in part by news of asset sales ( 10% of Hellenic Telecom for €325mm).

An exchange of financial assets

Trucking tonnage Index declined and Department of Transportation Miles driven decreased in March