euro area should not fear a repetition of recession, but we have to beware of further strengthening of the euro. This view was voiced by board member of the European Central Bank (ECB) Ewald Nowotny.
regulator for the past eight months, keeps key interest rate at historic lows of 1% per annum, while continuing to assert that the euro-zone economy after the financial crisis to be a hard way, reports Reuters.
In turn, Nowotny said with optimism about the economic recovery which has emerged in the area of walking single European currency. “I think it unlikely threat to re-recession. We have entered a period of slow but sure economic recovery. If such a threat existed, and before it subsided,” - said the ECB Governing Council member.
He also tried to allay fears expressed by France, that the strengthening euro could affect economic growth in the euro zone. Nevertheless Nowotny warned that the growth rate of uniform European currency should notacquire the character of a sustainable trend. “At the moment such a problem does not exist. Not desirable, only long-term strengthening of the euro against major currencies,” - he stressed.
According to him, given the ECB”s growth forecast for euro-zone economy in 0,1-1,5% in 2010 may be reviewed at the direction of some improvement. Nowotny, who also heads the Bank of Austria, believes that the regulator should continue the gradual emergence of anti-crisis mode.
Recall, 3 December 2009 the ECB left its key interest rate refinance without changes - at historically low levels of 1%. “The Council of the ECB expects that the eurozone economy will grow at a moderate pace in 2010, although recovery is likely to be uneven, and the forecast for growth remains very uncertain,” - said while European Central Bank President Jean-Claude Trichet, commenting on the decision the rate. He also announced that the ECB will begin phasing out emergency measures to support liquidity. December 16 this year The ECB held the last refinancing operations for 12 months. In addition, the ECB decided to complete the operation to provide 6-month loans in March 2010
Earlier, Jean-
K.Trishe repeatedly spoke of fears that private financial institutions can “sit on the needle” cheap liquidity provided by the Central Bank and said that some emergency measures to support the economy must be timely and gradually phase out the banks returned to normal credit regime.
12 January this year Jean-K.Trishe said that the world economy is gradually returning to normal after the global economic downturn. “We receive confirmation of a consistent normalization of the situation in the economy and the fact that we are in the stage of renewal, if we talk about the global economy”, - said president of the ECB. Trichet praised the countries that are developing, which play a major role in the process of overcoming the world economic crisis. “This is largely held by economies that are developing, demonstrating the resilience of the period, which was most severe, in terms of the fall production -” he said. - It is understandable that they currently are in a more dynamic phase of development. ” But he warned that the currently developing economies threatened by inflation. Trichet also reiterated the need to streamline government budgets. “We have devoted considerable time to the problem of fiscal imbalances need to return to normal and persistent fiscal position over the medium term”, - said Trichet.
Leaders act to reduce stocks of oil, steel and telecom sectors
It is difficult to imagine how these wd68ill be completed volatile trading, after pouring oil on the fire brightly vacillating oil prices
Railways in 2010 will send 71.8 billion rubles for the construction of infrastructural facilities in Sochi
Vladimir Putin has authorized the Baikal Pulp and Paper Mill to resume production
Rally of mining and oil sectors against the backdrop of rising prices for raw materials has helped European markets finish in positive territory Monday trading
EU finance ministers called on Greece to actively combat the budget deficit
President entrusted the North Caucasus Alexander Khloponin
An interesting idea can become tomorrow”s paper metallurgical sector, whd30ich today traded worse than the market
Oil prices hamper the enthusiasm of investors: in the course of trading on the MICEX index dropped 1,460 points support
ECB: The threat of a recession in the euro area re unlikely
euro area should not fear a repetition of recession, but we have to beware of further strengthening of the euro. This view was voiced by board member of the European Central Bank (ECB) Ewald Nowotny.
regulator for the past eight months, keeps key interest rate at historic lows of 1% per annum, while continuing to assert that the euro-zone economy after the financial crisis to be a hard way, reports Reuters.
In turn, Nowotny said with optimism about the economic recovery which has emerged in the area of walking single European currency. “I think it unlikely threat to re-recession. We have entered a period of slow but sure economic recovery. If such a threat existed, and before it subsided,” - said the ECB Governing Council member.
He also tried to allay fears expressed by France, that the strengthening euro could affect economic growth in the euro zone. Nevertheless Nowotny warned that the growth rate of uniform European currency should notacquire the character of a sustainable trend. “At the moment such a problem does not exist. Not desirable, only long-term strengthening of the euro against major currencies,” - he stressed.
According to him, given the ECB”s growth forecast for euro-zone economy in 0,1-1,5% in 2010 may be reviewed at the direction of some improvement. Nowotny, who also heads the Bank of Austria, believes that the regulator should continue the gradual emergence of anti-crisis mode.
Recall, 3 December 2009 the ECB left its key interest rate refinance without changes - at historically low levels of 1%. “The Council of the ECB expects that the eurozone economy will grow at a moderate pace in 2010, although recovery is likely to be uneven, and the forecast for growth remains very uncertain,” - said while European Central Bank President Jean-Claude Trichet, commenting on the decision the rate. He also announced that the ECB will begin phasing out emergency measures to support liquidity. December 16 this year The ECB held the last refinancing operations for 12 months. In addition, the ECB decided to complete the operation to provide 6-month loans in March 2010
Earlier, Jean-
K.Trishe repeatedly spoke of fears that private financial institutions can “sit on the needle” cheap liquidity provided by the Central Bank and said that some emergency measures to support the economy must be timely and gradually phase out the banks returned to normal credit regime.
12 January this year Jean-K.Trishe said that the world economy is gradually returning to normal after the global economic downturn. “We receive confirmation of a consistent normalization of the situation in the economy and the fact that we are in the stage of renewal, if we talk about the global economy”, - said president of the ECB. Trichet praised the countries that are developing, which play a major role in the process of overcoming the world economic crisis. “This is largely held by economies that are developing, demonstrating the resilience of the period, which was most severe, in terms of the fall production -” he said. - It is understandable that they currently are in a more dynamic phase of development. ” But he warned that the currently developing economies threatened by inflation. Trichet also reiterated the need to streamline government budgets. “We have devoted considerable time to the problem of fiscal imbalances need to return to normal and persistent fiscal position over the medium term”, - said Trichet.
Leaders act to reduce stocks of oil, steel and telecom sectors
It is difficult to imagine how these wd68ill be completed volatile trading, after pouring oil on the fire brightly vacillating oil prices
Railways in 2010 will send 71.8 billion rubles for the construction of infrastructural facilities in Sochi
Vladimir Putin has authorized the Baikal Pulp and Paper Mill to resume production
Rally of mining and oil sectors against the backdrop of rising prices for raw materials has helped European markets finish in positive territory Monday trading
EU finance ministers called on Greece to actively combat the budget deficit
President entrusted the North Caucasus Alexander Khloponin
An interesting idea can become tomorrow”s paper metallurgical sector, whd30ich today traded worse than the market
Oil prices hamper the enthusiasm of investors: in the course of trading on the MICEX index dropped 1,460 points support