WASHINGTON (MNI) – Before calling for ever more measures,
previously decided policies should be implemented, European Central Bank
Governing Council member Ewald Nowotny said Sunday.
“I strongly want to emphasize the main point should be first
implement the decisions already taken in July of this year. I think it
is not helpful that we have a barrage of new proposals every week, I
think we should first do our homework,” Nowotny said.
“Nothing can substitute fiscal discipline within each country
concerned, and if this is generally accepted then I think markets will
see this and we will have a new sound basis for economic development,”
the head of the Austrian National Bank said.
Speaking during a panel discussion on “The Eurozone’s Seminal
Moment?” on the sidelines of the World Bank and IMF Annual Meetings
Nowotny reiterated the ECB’s line that “we do not have a crisis of the
euro as such, we do have a fiscal crisis in some member states.”
“The euro is fully functioning,” Nowotny asserted.
–Frankfurt newsroom +49 69 72 01 42; e-mail: frankfurt@marketnews.com
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