Australia’s Debelle applauds ECB action

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Speaking in Sydney today (February 14), Guy Debelle, assistant governor of financial markets at the Reserve Bank of Australia, lauded the impact the European Central Bank's three-year liquidity operation had had on the European crisis.

Debelle said that while some "channels of influence" from the situation in Europe remained in the Australian financial markets, the situation so far this year was "more positive" than at the end 2011.

"The major instigator of this change, in my opinion, was the

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