ECB Mersch: Non-Standard Measures Must Be Slowly Unwound

LUXEMBOURG (MNI) – The European Central Bank’s non-standard
measures are by definition temporary and must be gradually unwound,
Governing Council member Yves Mersch said.

In a written introduction to the annual report of the Central Bank
of Luxembourg, which he heads, Mersch stressed that the policies
announced to improve governance in the Eurozone needed to be implemented
“without delay.”

The central banker noted the emergence of signs pointing to
economic stabilisation and a slow return of market confidence. “Measures
taken by authorities, at both the Eurozone and national levels, are
starting to have an effect, even if there remains some ways to go,” he
said.

Mersch also highlighted tensions remaining, notably in sovereign
debt markets. “The economy and its financing remain affected,” he said.

— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com

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