yes friends they are in ' DE NILE ' . trichets own words 2 months ago. 'We see no credit crunch, certainly not when you look at the figures that have been publishedâ¦ Since mid-September we have a very, very, big, significant intensification of intentions which are associated in particular, but not exclusively, with the collapse of Lehman Brothers and since then we are in a situation where we have to be particularly attentive but I cannot say at all that at the moment we are seeing a credit crunchâ¦ On the contrary we continue to see outstanding credit continue to growth.' What is this prick talking about. commerz bank now bailed out. german manufacturers on their knees. euro exporters cant sell jack shit. this amounts to some kind of clear out at the ECB. something will give. i cant see trichet in charge. he has lost all credibility. On the contrary we continue to see outstanding credit continue to growth.' what a cock. they probably wont even cut rates next week quoting some inflation target nonsense.