PARIS (MNI) – European Central Bank Governing Council member Yves
Mersch on Wednesday sought to downplay the danger of contagion from the
Ireland crisis, saying that financial markets could ascertain the
differences among EMU countries.
“Markets are able to assess the difference from one country to
another,” Mersch said in an interview with CNBC Europe, a small excerpt
of which was played moments ago.
“A question that is being asked is whether [the crisis] will spill
over into the whole region, and if I look at the markets there are
differences in bond yields. In some cases bond yields are extremely
low,” he said, noting that this would not be the case if the crisis were
affecting the Eurozone as a whole.
CNBC said it would air the full interview with Mersch at 0640
GMT/0040 ET and that he had discussed, among other things, the euro and
the ECB’s exit strategy.
–Paris newsroom, +331-42-71-55-40; bwolfson@marketnews.com
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