ECB’s Nowotny Calls for Greater Fiscal Coordination in Europe

(CEP News) Frankfurt - Stronger coordination of fiscal policies in Europe would be ideal, European Central Bank Governing Council member Ewald Nowotny said.

In an interview with Austrian newspaper Wirtschaftsblatt published on Friday, Nowotny dismissed the idea of a global central bank, calling it unrealistic. Instead, it would be better to strengthen the financial market supervisory role of the International Monetary Fund, Nowotny said.

The central banker also said the U.S. Federal Reserve’s monetary policy had too loose for too long in the past.

Written by CEP News European Staff, eunews@economicnews.ca

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Posted in Categories: Economy, Eurozone, Releases, USA.