ECB’s Villeroy: France should avoid recession, French banks are solid
|“France should avoid recession,” European Central Bank (ECB) Governing Council member and Bank of France head Francois Villeroy de Galhau said on Monday, adding that the “French banks are solid.”
“Regulation of French and European banks is better than that in United States,” Villeroy added.
Additional quotes
French banks have strong liquidity and capital.
Reaffirms ECB’s determination to bring down inflation.
French banks are not concerned by the banking problems we have seen in united states and switzerland.
Vigilant regarding food price and energy sector inflation.
We cannot allow inflation to settle into the system.
Would hope that, for the month of June, agricultural prices should go down.
Welcomes UBS’ purchase of Credit suisse.
Market reaction
Amid a renewed risk-aversion wave, EUR/USD is erasing early gains to trade flat at 1.0660, as of writing.
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