- No value in bringing forward end of PEPP
- Now especially that there is new uncertainty from events in Israel and Palestine
- Need to keep flexibility and act if necessary
This contradicts with what Kazaks mentioned yesterday, that the ECB should at least discuss an early end to PEPP. So, I guess they have some sorting out to do behind the scenes. Stournaras also warns about the risks of stagflation but brushes aside market concerns with regards to Italy’s public finances.