European Market Insight: ECB and Greece Fighting For Spotlight

The European Central Bank (ECB) kept rates steady as expected and left the main refinancing rate at 1 percent. There were some significant developments underneath the surface though, which could explain the upbeat markets of last week and the week before.
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European Market Insight: ECB and Greece Fighting For Spotlight
A picture of a TV screen shows Greek Prime Minister Lucas Papademos during his televised address to the nation late on Feb. 11, before parliament voted to approve a new set of austerity measures. (Louisa Gouliamaki/AFP/Getty Images)
Valentin Schmid
2/13/2012
Updated:
10/1/2015
<a><img class="size-large wp-image-1792004" title="A picture of a TV screen shows Greek Prime Minister Lucas Papademos " src="https://www.theepochtimes.com/assets/uploads/2015/09/1387535702.jpg" alt="A picture of a TV screen shows Greek Prime Minister Lucas Papademos " width="590" height="392"/></a>
A picture of a TV screen shows Greek Prime Minister Lucas Papademos

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Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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