FRANKFURT (MNI) – European Central Bank Governing Council Member
Ewald Nowotny warned Thursday that delays in passing reforms to the
European Financial Stability Facility might force the ECB to reconsider
its bond buying program.
“If there is no adequate safety net then the bridge under
construction has no second pillar, which might mean we will have to
reconsider our bond buying strategy,” Nowotny warned in an interview
broadcast on Austrian radio.
Nowotny said he was “deeply concerned” about recent developments.
“I believe the main actors in this saga are quite aware of the
risks not only to the region as a whole but to their own countries, if
the reforms are not ratified,” he said.
Nowotny also said politicians must stop political bickering and
speak with one voice if the crisis gripping the Eurozone is to be
brought under control.
“While diversity of opinion is one of the core strengths of a
strong Euope, it also can be a major disadvantage, and what we need now
is a coordinated approach to solving the region’s problems,” Nowotny
said.
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com
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