ECB Governing Council Member Ewald Nowotny in an interview on Swiss financial website Cash.ch
(via Reuters)
- Developments in Brazil, Russia and China are not only leading to a dimming of the overall economic situation but also spurring investors in emerging markets - in particular state funds - to sell
Says preserving liquidity remains paramount:
"That underscores why measures of the European Central Bank in this phase are of such importance," he said in the interview. "Because the ECB is a certain guarantor that appropriate liquidity backups are possible for banks, at least those in the euro zone."
On the outlook for the European Central Bank March meeting (bolding mine):
"In December in the midst of visits to London I was confronted with almost ludicrous considerations that were divorced from reality," Nowotny said in the interview. "Now, this is not the case. We're having relatively serious discussions. There is still time until March, however, so it's important that we don't get lost in 'mind games' that are simply institutionally and technically impossible."
