-- a credit event should be avoided

-- ECB fiercely independent,faithful to mandate

-- euro is credible,stable currency

-- EFSF to ensure emu financial stability

-- EFSF leverage via ECB not appropriate

-- europe must align fiscal policies

-- governments have means to leverage EFSF

-- full credible to deliver price stability

-- up to govts to get EFSF up and running soon

-- eurozone financial stability is at stake

-- banks must strengthen balance sheet quickly

-- fears that liquid measures add to inflation unfounded

-- calls for full implementation of july 21 decisions

-- must deal w/sovereign risks,bank situation