ECB’s Smaghi quoted

*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 [...]