Saturday, December 28, 2013 4:55 am
Bundesbank chief presses Europe to pursue reforms
The Associated Press
Bundesbank chief and European Central Bank governing council member Jens Weidmann was quoted as telling Saturday's edition of German daily Bild that financial markets have calmed but "the crisis can flare up again." He said Europe needs "endurance and strong will" to see through its reform course.
The ECB has cut its main interest rate to a record-low 0.25 percent and may take further action amid economic weakness and low inflation. Weidmann, an anti-inflation hawk, said low rates are justified but cautioned that "low price pressure cannot be a warrant for loosening monetary policy at will."