French CB Governor Says Worst of Euro Crisis is Over

Banque de France Gov. Christian Noyer says the bulk of the European financial crisis is over, though he added that the European Central Bank stands “ready to act” if the euro appreciates.

Over the weekend, ECB President Mario Draghi said he would ease monetary policy further if the euro remains strong and puts pressure on exports. During an interview with CNBC on Monday, Noyer said the ECB could also buy sovereign debt in addition to securities in a potential easing program.

“There are still things to finish and repair but we see the economy returning to growth,” Noyer said on CNBC’s “Squawk on the Street.” “It’s still uneven, but less and less so. And we have real confidence that we can return to a good path of growth and price stability.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza