ECB's Lautenschlaeger (Germany): Reiterates QE is not the appropriate step for the eurozone - financial press
- Says: "A consideration of the costs and benefits, and the opportunities and risks, of a broad purchase program of government bonds does not give a positive outcome.. There are very few shared competencies in fiscal policy. As long as this is the case, the ECBs purchase of government securities is inevitably linked to a serious incentive problem... Unanimous monetary policy can and must maintain price stability. No more and no less."
- Long-term interest rates in Spain and Italy are already lower than in US and UK.