HELSINKI (MNI) – Eurozone economic activity “will be subdued” next
year, ECB Governing Council member Erkki Liikanen said Thursday,
stressing that “stabilizing decisions remain important.”
Commenting on the newly agreed European banking union, the governor
of the Finnish central bank highlighted the “central question” of the
division of labor between central and national supervisory bodies.
“A large share of supervisory activities will be handled by
national authorities,” he said.
Liikanen stressed the need to keep the new supervisory function of
the ECB separate from its monetary policy mandate. “ECB monetary policy
will be independent, and the supervisory mechanism will be independent,”
he assured.
– Johannes Nuutinen; email: johannes.nuutinen@helsinki.fi
[TOPICS: M$$CR$,MFX$$$,M$$EC$,MGX$$$,M$X$$$]
