FRANKFURT (MNI) – The euro is not weak at present, rather its
purchasing power is safe and will remain so, European Central Bank
Executive Board member Juergen Stark said Friday.
“I would like here from the side of the ECB to give a clear signal
to citizens that it is not the case that we now have a weak euro, rather
the purchasing power of the currency is secured and will remain
secured,” he told Germany’s WDR5 radio.
“Since the emergence of the euro, we have done excellent work” in
maintaining price stability, Stark insisted.
The “internal stability of the euro is untouched,” he said, but
noted that there are grave problems in some euro countries, particularly
involving the state of public budgets. Some countries have correctly
addressed these problems, while others have signaled that they are
undertaking additional measures.
“Our monetary policy has not changed,” Stark said. “With the
measures that we decided on May 9, there was no easing of our monetary
policy.”
“Our independence is fully assured,” he said.
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
[TOPICS: MT$$$$,M$$FX$,M$$EC$,M$X$$$,M$$CR$,MGX$$$]
