ECB’s Makuch: Swift fiscal consolidation is key to the Eurozone problems

• Short term goal is to cut deficits to under 3% of GDP, head towards balanced budgets
• Long term goal to build fiscal pillar of monetary union
• Down to governments , not the ECB, to fix fiscal problems within the Eurozone

Jozef Makuch also heads the Slovak National Bank, and earlier stated that the ECB should not need emergency lending measures next year