FRANKFURT (MNI) – Criticism of the European Central Bank’s decision
to purchase government securities is understandable, but markets have no
need to worry about the bank’s independence, ECB Executive Board member
Jose Manuel Gonzalez-Paramo said Wednesday.
“I think some of these comments are understandable…these
operations are temporary, these operations will be sterilized in the
sense that one euro in means one euro out,” he told delegates at a
conference on credit risk.
The ECB’s recent moves do not weaken the bank’s mandate of
defending price stability and the ECB will “fiercely” defend its
independence, he said.
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–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$$EC$,M$X$$$,M$$CR$,MGX$$$]
