Market news
10.12.2010, 09:50

ECB MERSCH ON EUROBONDS: Why not expand already existing EFSF


  • Eurobond debate hides incapacity to make needed reforms
  • If want to europeanize debt, must europeanize taxes
  • Can't exclude embracing part of eurobond proposal
  • Disturbed by uncertainty caused by comments, proposals
  • ECB bond buying to continue, but we are aware of risks
  • Can't blur line between monetary policy, fiscal policy
  • ECB can't replace lack of action by others
  • Huge amount of reform already done in some EMU states
  • With time markets will appropriately assess reforms

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