Thomson Financial News - The ECB could do that (cut rates) but I would not do that right now. I would not use my firepower prematurely but will first wait how the path of contagion will run through. If the European economy really breaks down, then that would be the time. But at the moment I really do not see that. The upswing in the world economy started in America five years ago and grew gradually afterwards...I believe that in the downswing, it will play out similarly.