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ECB's Knot- 'ECB can't solve the crisis'

Well that's reassuring considering the markets apparently depending on the European Central Bank to support, stabilize and push past the current eurozone crisis.

Today in a Dutch weekly magazine, VRIJ Nederland, Klaas Knot, the President  and Governor at De Nederlandsche Bank (the Dutch Central Bank) and also member of the ECB Governing Council and Governor at the Bank of International Settlements(BIS) said:

"The ECB can not solve the crisis, which is primarily a task of the government."

While this maybe true, it's not exactly what the markets want to hear politicians and market participants – who have seen investors turn their backs on the EFSF and abandon the European government bond markets – are pressing the ECB to save the day and increase its buying.

To be continued ......

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