Austrian central banker Nowotny says that he sees no problem with the current euro level but he does not want to see a continuation of its uptrend. The eurozone recovery is self-sustaining, although weak, he says.
On Greece, he says he does not see its credit rating going down in a harmful way.
Asked if the ECB would end its full allotment policy (lending unlimited amounts at the repo), he said he would not exclude it.
There is no longer a need for ECB dollar lending operations, he said.
Eastern Europe (to which Austria is the gateway) needs to develop alternatives to loans and mortgages in foreign currencies Nowotny said.
