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Thursday, March 24, 2011

European Central Bank executives said the Fund scheme is not panacea

Beijing time on March 19 the evening news, the European Central Bank (ECB), Member of the Management Committee of Austria, Governor of the Bank of Jens Nowotny (Ewcently pointed out that the assistance fund for EU countries is not a "panacea", he also urged the EU Member States reforming budget as soon as possible.

NOWOTNY 19th local time in accepting Austria the Klein newspaper reporter said in an interview: "the euro crisis is not currently established. "He also said that some EU countries encounter bottlenecks to economic development at the moment, which has problems of banking institutions, there are production problems in the field of, but all the problem does not just rely on the assistance fund to address.

in addition, NOWOTNY on whether it should be also Portugal and Greece economy weak kicked out of the European Union to give negative answer, he said that if these countries have been excluded from outside the EU, other countries will suffer serious negative knock-on effects. NOWOTNY considers Portugal, and Greece and other countries should resume their normal order of the budget and increase the transparency of the financial system. (Wen Jing)