August 21 | CNBC

Markets to European Central Bank: Get Germany on Board | by Dhara Ranasinghe

CNBC writes: As the European Central Bank (ECB) mulls steps to end the euro zone debt crisis, analysts say what’s really key is that Germany fully supports the measures – otherwise the ECB’s credibility is likely to take a hit, sending markets back into a tailspin. “The problem is that once they (the ECB) make any kind of commitment they have got to follow through, otherwise their credibility as an institution is at risk and a loss of that credibility would be far more damaging than anything we’ve seen so far in terms of their ability to contain the crisis,” Chandan said.

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