ECB criticised over expected rate rise

The European Central Bank faces an international backlash at the beginning of April 2011, when, in spite of the eurozone debt crisis, it is expected to raise interest rates and to consider ways of weaning the weakest banks off its offers of unlimited liquidity.

Plans by the ECB to tighten monetary policy before the US Federal Reserve and Bank of England were criticised at the weekend as premature and potentially dangerous by economists. The finance minister of Greece voiced concern; Greece, along with other eurozone 'periphery' countries is undergoing painful economic restructuring.

Les Echos, 7.4.11: ECB turns off the tap (via PressEurop) http://www.presseurop.eu/en/content/news-brief/587951-ecb-turns-tap

ESO: Background information: ECB cannot tailor monetary policy for individual countries http://www.europeansources.info/record/ecb-cannot-tailor-monetary-policy-for-individual-countries/

ESO: Background information: Deal frustrates ECB ambitions on bond buying http://www.europeansources.info/record/deal-frustrates-ecb-ambitions-on-bond-buying/

EUObserver, 4.4.11: ECB expected to hike interest rate this week http://euobserver.com/9/32116

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