European stock markets have all but closed down Friday, pushing the market to allow Germany to the European Central Bank to guarantee the debt of fragile countries in the euro area. But Berlin and the ECB still refuse it. A passerby looks at the course of the Tokyo Stock Exchange in March 2011.
Most European stock markets ended the week in the red, worried Berlin's refusal to use the European Central Bank (ECB) to reduce fears about fragile states. Paris has lost 0.4%, from under 3000 points, Frankfurt (-0.8%) and London (-1.11%) also won. Madrid and Milan have instead ended in the green (0.5% and 0.2% respectively). In the line of sight of the markets, the refusal to Berlin to call for the ECB to contain the crisis.Political pressures are becoming more numerous and demanding that the central bank relaxed its position to let him play the role of lender of last resort against Europe's most indebted. And put an end to soaring interest rates on debt. The spread between Germany and Spain has exceeded 500 basis points Friday. "As the savior of Italy but also in other countries precarious, there is that the ECB," said analyst Robert Halver Germany, Baader Bank, adding that "it is the only one who can fight against nuclear explosion in the euro area. "
Germany and the ECB opposed to an intervention
Germany, the only country ruled by the strong market is the focus of all eyes. Chancellor Angela Merkel refuses steadfastly calls to relax the policy of the ECB.