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- Jean-Claude Trichet, Chair of the European Central Bank
At his final press conference as Chair of ECB President Jean-Claude Trichet announced the resuming of buying of covered bank bonds in November. He said that two separate tenders of year-long refinancing to euro-zone banks will be held.
It was mentioned during the press conference, that ECB will keep providing unlimited liquidity with its one-week, one-month and three-month operations at least until July next year.
Mr. Trichet criticized once again the governments for their "inadequate" governance within the euro zone during first 10 years of the common European currency. He demanded "inflexible determination" by speeding up structural and fiscal reforms. "Unfavorable effects on financial markets are likely to dampen the pace of growth in the second half of the year," Mr. Trichet said.