Imark
Forumer storico
Banca centrale europea: Stark fa presente ai greci che devono rimettere i propri conti in ordine, facendone una priorità assoluta, ed ha fatto presente che paesi in situazioni analoghe hanno accettato di vedere una riduzione delle paghe ai dipendenti pur di raggiungere un tale obiettivo.
Aggiunge inoltre che la Grecia deve introdurre riforme tali da far sì che essa non produca deficit strutturalmente e ribadisce che non si può chiedere ad altri stati dell'eurozona di rispondere dei debiti di altri membri.
Aggiunge che non vede rischi di inflazione reali per i prossimi 18-24 mesi, se gli stati opereranno correttamente nel ristrutturare i propri bilanci.
Greece Must Control Deficit: ECB's Stark
By REUTERS
Published: January 23, 2010
Filed at 7:23 a.m. ET
BERLIN (Reuters) - No country in the euro zone is responsible for the debts of other member states, European Central Bank policymaker Juergen Stark said in an interview that focussed on Greece, released on Saturday.
Stark told the Welt am Sonntag newspaper that Greece, which is battling to get its budget under control, must make comprehensive consolidation a priority but also reform its economy to stop producing deficits.
"Countries like Greece must not only bring their deficits under control, but also enact a fundamental reorientation of their economic policy," Stark said.
"Some countries have even managed to accept falling wages -- there is no alternative for economies in a difficult situation," he added in the interview, which had been held on Thursday.
Greece's deteriorating public finances have prompted one of the worst crises in the euro zone since the single currency was introduced. The country is attempting to cut its budget deficit, which hit 12.7 percent of gross domestic product in 2009.
Doubts have grown however over the very reliability of Greek statistics, after a report by the EU's executive Commission showed Greece had for years misreported budget deficit data.
"Greece must urgently make improvements in this area," Stark said in the interview.
Stark, one of the ECB's six-strong executive board, also said that he currently saw no risks to price stability -- be it inflation or deflation -- for the next 18 to 24 months.
But, he added: "The risks to price stability also depend on how successful states manage to restructure their budgets."
Taking a swipe at the practice of central banks in the United States and Britain of financing state debt by buying up government bonds, Stark said such practices were off the table in continental Europe.
"It's a question of the lifespan of economic growth -- what sense does it make, when artificially strong growth creates exaggerations and imbalances that lead to severe crises?"
(Writing by Brian Rohan)
Aggiunge inoltre che la Grecia deve introdurre riforme tali da far sì che essa non produca deficit strutturalmente e ribadisce che non si può chiedere ad altri stati dell'eurozona di rispondere dei debiti di altri membri.
Aggiunge che non vede rischi di inflazione reali per i prossimi 18-24 mesi, se gli stati opereranno correttamente nel ristrutturare i propri bilanci.
Greece Must Control Deficit: ECB's Stark
By REUTERS
Published: January 23, 2010
Filed at 7:23 a.m. ET
BERLIN (Reuters) - No country in the euro zone is responsible for the debts of other member states, European Central Bank policymaker Juergen Stark said in an interview that focussed on Greece, released on Saturday.
Stark told the Welt am Sonntag newspaper that Greece, which is battling to get its budget under control, must make comprehensive consolidation a priority but also reform its economy to stop producing deficits.
"Countries like Greece must not only bring their deficits under control, but also enact a fundamental reorientation of their economic policy," Stark said.
"Some countries have even managed to accept falling wages -- there is no alternative for economies in a difficult situation," he added in the interview, which had been held on Thursday.
Greece's deteriorating public finances have prompted one of the worst crises in the euro zone since the single currency was introduced. The country is attempting to cut its budget deficit, which hit 12.7 percent of gross domestic product in 2009.
Doubts have grown however over the very reliability of Greek statistics, after a report by the EU's executive Commission showed Greece had for years misreported budget deficit data.
"Greece must urgently make improvements in this area," Stark said in the interview.
Stark, one of the ECB's six-strong executive board, also said that he currently saw no risks to price stability -- be it inflation or deflation -- for the next 18 to 24 months.
But, he added: "The risks to price stability also depend on how successful states manage to restructure their budgets."
Taking a swipe at the practice of central banks in the United States and Britain of financing state debt by buying up government bonds, Stark said such practices were off the table in continental Europe.
"It's a question of the lifespan of economic growth -- what sense does it make, when artificially strong growth creates exaggerations and imbalances that lead to severe crises?"
(Writing by Brian Rohan)
