ecb defends expansionary monetary policy against intensifying criticism
Last Updated : GMT 06:04:58
Arab Today, arab today
Arab Today, arab today

ECB defends expansionary monetary policy against intensifying criticism

Arab Today, arab today

Arab Today, arab today ECB defends expansionary monetary policy against intensifying criticism

European Central Bank
Amsterdam - XINHUA

European Central Bank (ECB) executive board member Benoit Coeure, at a meeting of eurozone finance chiefs, defended the bank's monetary policy on Friday against criticism from German politicians pointing at the bank's negative deposit rate and the mass purchase of bonds through its quantitative easing program.

When the bank's governing council met on Thursday, the council unanimously defended the appropriateness of the current expansionary monetary policy, said the French economist at a press conference.

"We all have difficult work to do. The ministers have hard work to do. We have hard work to do. We have different responsibilities," he added, stressing that the bank's best contribution to the eurozone would be to deliver on what the treaty establishing it says.

In March, ECB unveiled a series of unconventional monetary policies designed to lift inflation closer to its two percent target. Anti-deflation measures already in place include the monthly purchase of 80 billion euros (89.88 billion U.S. dollars) in bonds. The policy has been criticized by German politicians since the beginning.

Earlier this week, German finance minister Wolfgang Schauble said record low rates were causing extraordinary problems for German banks and pensioners and risked fuelling the rise of Eurosceptics in Germany. He suggested that the ultra-low rates were partly responsible for the rise of the xenophobic party Alternative for Germany.

Emphasizing the bank's right to independence from political interference, eurozone finance chief Jeroen Dijsselbloem called on eurozone politicians to refrain from commenting on ECB's work. "ECB needs to do its work in full independence. It is important for its credibility and the effectiveness of its policies."

Concerning Greece, Coeure said the ECB agreed that "debt measures for Greece are necessary to ensure debt sustainability" and the bank would provide technical assistance on debt relief measures for Greece. He also noted that Greece had made progress on tackling the problem of non-performing loans during the current bailout negotiations.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb defends expansionary monetary policy against intensifying criticism ecb defends expansionary monetary policy against intensifying criticism

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ecb defends expansionary monetary policy against intensifying criticism ecb defends expansionary monetary policy against intensifying criticism

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday