–Adds Comment on Euro, Respecting Stability and Growth Pact
FRANKFURT (MNI) – Despite the recent fall of the euro, price
stability still prevails in the Eurozone and that will remain so in the
future, European Central Bank Executive Board member Gertrude
Tumpel-Gugerell said Monday.
“Price stability is given and you can count on it that it will stay
that way in the future,” she told Austria’s Top Gewinn magazine.
“The expansion of public deficits was indeed necessary in many
cases,” she said. “But it is equally necessary to roll back these
deficits, as has been agreed in Europe.”
“The euro is not in danger,” she insisted.
The case of Greece shows how important solid public finances are,
Tumpel-Gugerell remarked. While the EU’s Stability and Growth Pact
should ensure solid finances, “in the future, we must, however, make
sure that it is respected more strictly, in order to prevent the kind of
problems we are experiencing right now from ever happening.”
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
[TOPICS: M$$EC$,M$X$$$,M$G$$$,MGX$$$,M$$CR$]
