LUXEMBOURG, March 10 (Reuters) - Europe's bailout fund needs more instruments at its disposal than it now has, European Central Bank policymaker Yves Mersch said on Thursday.
When asked about bond buying for the European Financial Stability Fund, Mersch said: "We only speak about flexibility in order not to be too precise but it is obvious that the instruments that are at the disposal of the EFSF need to be more extensive that what is the case at present.
"I am firmly in line with the opinion of the ECB in this matter which calls not only for increased flexibility but also for an extension in the volume of the EFSF," he added during a presentation of the Luxembourg central bank's national accounts.
"We are in a situation of extreme incertitude due to the fact that markets are waiting on decision made at the European level, at the level of governments," he said, referring to a euro zone summit to be held on Friday which is expected to prepare for a meeting of all 27 EU leaders in Brussels on March 24-25.
"The decisions should be such that they "give enough credibility to the process of the European governance," said Mersch.
Source: Reuters
www.reuters.com
When asked about bond buying for the European Financial Stability Fund, Mersch said: "We only speak about flexibility in order not to be too precise but it is obvious that the instruments that are at the disposal of the EFSF need to be more extensive that what is the case at present.
"I am firmly in line with the opinion of the ECB in this matter which calls not only for increased flexibility but also for an extension in the volume of the EFSF," he added during a presentation of the Luxembourg central bank's national accounts.
"We are in a situation of extreme incertitude due to the fact that markets are waiting on decision made at the European level, at the level of governments," he said, referring to a euro zone summit to be held on Friday which is expected to prepare for a meeting of all 27 EU leaders in Brussels on March 24-25.
"The decisions should be such that they "give enough credibility to the process of the European governance," said Mersch.
Source: Reuters
www.reuters.com
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