ECB Official: European debt crisis of the financial market turmoil has in the past.

<P> Senior ECB officials have publicly expressed last weekend by the debt crisis of the euro in Europe the most serious financial market turmoil is over, the recent upward trend in market interest rates will not have harmed the economy. .</ P> <P> European Central Bank President Jean-Claude Trichet said the European financial markets have begun to ease tensions, the central bank will gradually cut euro-zone member states with high debt relief initiatives. .However, on July 9 in a German central bank and the exposure of the German Central Credit Committee (ZKA) minutes of the meeting, the European Central Bank on euro-zone banking sector large-scale assistance measures will be maintained at least until 2011. .</ P> <P> darkest hour is over </ P> <P> 9, Trichet said euro zone economic growth will moderate, but in the "highly uncertain" environment, economic growth may still not balanced .. .Earlier, the European Central Bank and Bank of England announced that its benchmark interest rate were 1% and 0.5% at a historical low of the same. .</ P> <P> European Central Bank executive board member Stark said: "The (European debt crisis) the worst is over, the market has calmed down, easing tensions." This is mainly reflected in the ECB .provided to the euro-zone banks 442 billion euros of loans to a smooth maturity of 1 year, the European Central Bank will no longer offer a 1-year refinancing operations. .Stark said the reduction in liquidity has led to money market interest rates only slightly higher, which is the market for euro-zone economy and restore confidence in the sign of the banking system. .</ P> <P> Jean-Claude Trichet pointed out that outside the euro zone is expected to be too pessimistic economic outlook, economic data "did not confirm such a pessimistic, double-dip recession is not the situation we observed." .</ P> <P> exit strategy needs to be next year </ P> <P> joint EU-IMF rescue package on May 10 was officially launched, the European central bank to buy a Greece, Portugal, almost 600 billion euros of debt. .Currently, the number of European central bank to buy government bonds is gradually reduced, since mid-June since the average purchase amount per week is only about 40 billion euros. .</ P> <P> 9 Jean-Claude Trichet pointed out that as the market worries about the debt crisis in Europe has declined, the European Central Bank purchases of euro area government bonds have been in decline. .Analysts believe that this statement implies that the European Central Bank bond purchase programs may soon be stopped. .The ECB will also release this month, the new cooperation framework in 2011 the details of the new framework will increase the euro area banks to the European Central Bank borrowing costs, which also shows that the European Central Bank carefully arranged exit strategy in the next step. .But Trichet declined to give relief measures the central bank to withdraw a specific date, but also did not state the specific conditions of termination of assistance programs. .</ P> <P> German central bank and the German Central Credit Committee of the minutes of a meeting of the ECB may have to at least 2011, will formally quit the eurozone banking system to provide massive support measures. .Minutes of the meeting, said: "There is not an exit strategy began to imagine, once the financial market conditions are ripe, it will start out unconventional measures." Summary suggests, given the current market situation, the European central bank is unlikely in the fourth quarter .Quit supporting strategy. .</ P>.