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ECB Council Member: Monetary policy alone can not block the decline

Frankfurt (APA / Reuters) – In another economic decline in the euro area, the President of the Olli Rehn Fingal Army Reserve is adjacent to the Central Bank of Europe (ECB) and the respective governments in the duty. Although his / her entire instruments at the bank are at # 39; ultimately ", money policy can not be done by itself, Council member ECB Rehn told the" Handelsblatt "(Monday preparation).

Governments should – in particular some of the three largest economies, Germany, France and Italy – retain more responsibilities in different areas. "Germany should therefore make additional investments in digital infrastructure and transport. France needs to continue to develop labor markets and Italy should be the labor market and the centers reform.

The ECB "at any time in the next meetings" will be subject to the possibility of submitting money for new long-term credits (TLTRO) for bank trade concerns, Name it according to Vorabbericht. He agreed with CEO Mario Draghi "that clear and positive policy correction needs, whatever we do with TLTROs". ECB, director of Benoit Coeure, can think that long-term loans will be restored for commercial banks due to the shortest economic perspective. "That's possible. We talk about that," Coeure said at an event in New York on Friday. "There may be room for another TLTRO," he said.

Rehn said that the design of these loans is important "because it depends on how they will affect the economy." However, the middle bankers would have time left before the summer came to a decision. It was "based on data for the entire euro area and not for one country".

In 2016, ECB launched a series of these cash losses to increase loans. For now, consideration was given to the stock markets that the financial authorities could repeat to do; Visit this instrument as a result of the economic weakness.

As CEO CEB Draghi, Rehn, who is considered a candidate as possible, said it was essential that the next president ECB be elected "according to the ability and knowledge" . "It should be strong in economic and financial policy in Europe and to be reliable throughout Europe."

~ WEB http://www.ecb.int ~ APA240 2019-02-17 / 16: 37

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