BERLIN (MNI) – The European Commission does not believe that the
European Central Bank will become the lender of last resort for Eurozone
states, a Commission official said Tuesday.
“It is our view that the ECB won’t go against the European treaties
and become an unlimited lender of last resort,” the Commission source
said.
“The ECB will assume its responsibility and will conduct its
special [bond purchasing] program in a measured way to keep up the
reform pressure on the problem states,” the official explained.
Commenting on this week’s European summit, the source said it is
still open how-far reaching the decisions will be that European leaders
will actually take on Thursday and Friday.
The way in which Germany and France presented their joint proposals
to overcome the crisis on Monday has offended some of the other member
states, the official said.
He stressed that the situation for the Eurozone “is extremely
serious and, thus, it is ever more important that clear signals come
from the summit on Thursday and Friday.”
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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