Its Over, page-17050

Here is what Christine Lagarde said
"We believe that the euro area banking sector is resilient, with strong capital and liquidity positions"

We believe? You are the ECB President, you only believe you do not know?

Is like Jamie Dimon saying "I have no recollection...." in relation to Epstein, that's different from an affirmative no.

Its a type of speak that does not want to say the actual truth and not bound to a more precise yes or no answer.

Of course we do not expect Lagarde to say anything otherwise which would jeopardise confidence, but the word 'believe' connotes fragility and when it comes to fragility, anything goes. If investors pull out en masse from the At1 market following the collapse of CS AT1 bonds that left bondholders with nothing, that could represent another source of financial stress.