ECB’s Knot Says Greece Will Need Reforms Even If It Exits Euro
2015-06-16 15:11:10.625 GMT
By Alessandro Speciale and Corina Ruhe
(Bloomberg) -- “In all the scenarios, either with or
wihout default, either with or without an exit, more or less the
same set of economic reforms will have to be implemented,” ECB
Governing Council member Klaas Knot says at event in the Hague.
* “Under all scenarios it’s important there will be a future
outlook for Greece. And that outlook requires that the Greek
economy will be modernized”
* “Government finances must become sustainable again and the
economy must deeply be modernized”
* Euro-area economic recovery is gaining momentum
* “Positive sentiment is partly caused by the accommodative
monetary policy by central banks worldwide but definitely
the ECB”
* ECB QE is “a medicine that’s not without side effects. It
leads to extremely low interest rates. This means the price
of risk is low or not there at all”
* NOTE: Tsipras Brands IMF Criminal as Merkel Focuses on Greek
Solution
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporters on this story:
Alessandro Speciale in Frankfurt at +49-69-9204-1201 or
aspeciale@bloomberg.net;
Corina Ruhe in Amsterdam at +31-20-589-8526 or
cruhe@bloomberg.net
To contact the editor responsible for this story:
Fergal O’Brien at +44-20-3525-7152 or
fobrien@bloomberg.net
2015-06-16 15:11:10.625 GMT
By Alessandro Speciale and Corina Ruhe
(Bloomberg) -- “In all the scenarios, either with or
wihout default, either with or without an exit, more or less the
same set of economic reforms will have to be implemented,” ECB
Governing Council member Klaas Knot says at event in the Hague.
* “Under all scenarios it’s important there will be a future
outlook for Greece. And that outlook requires that the Greek
economy will be modernized”
* “Government finances must become sustainable again and the
economy must deeply be modernized”
* Euro-area economic recovery is gaining momentum
* “Positive sentiment is partly caused by the accommodative
monetary policy by central banks worldwide but definitely
the ECB”
* ECB QE is “a medicine that’s not without side effects. It
leads to extremely low interest rates. This means the price
of risk is low or not there at all”
* NOTE: Tsipras Brands IMF Criminal as Merkel Focuses on Greek
Solution
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporters on this story:
Alessandro Speciale in Frankfurt at +49-69-9204-1201 or
aspeciale@bloomberg.net;
Corina Ruhe in Amsterdam at +31-20-589-8526 or
cruhe@bloomberg.net
To contact the editor responsible for this story:
Fergal O’Brien at +44-20-3525-7152 or
fobrien@bloomberg.net