FRANKFURT (MNI) – The European Central Bank has inflation under
control and its main task at present is to prevent sustained economic
weakness, ECB Governing Council member Ewald Nowotny said on Tuesday,
according to Austrian daily Wirtschaftsblatt.
According to the paper, Nowotny, who heads the Austrian National
Bank, warned at an unpublicized event at a bank in the city of Linz
about the danger of a long period of stagnant growth as in Japan and
called preventing such a situation “the main task for the near future.”
Nowotny dismissed concerns about inflation with the words: “We have
this subject under control at the European Central Bank.”
As for Greece, the newspaper quoted Nowotny as saying that “the
approval of the austerity package by the Greek parliament is a milestone
in calming down the current euro crisis.”
–Frankfurt bureau tel.: +49-69-720142. Email: dbarwick@marketnews.com
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