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ECB CAN DO MORE

Euro zone will stay intact says OECD chief

Bled, Slovenia, September 2, 2012

 

The euro zone will remain intact despite the current crisis, the secretary-general of the Organisation for Economic Cooperation and Development (OECD) said on Sunday.
 
"I believe nobody is going to leave the euro and nobody should leave the euro," Angel Gurria told a news conference during an international forum in Slovenia. 
 
Gurria said the European Central Bank should do more to stem the crisis in the euro zone because the current financial facilities are not enough.
 
"The system is at stake, the euro should not be put at risk ... The ECB should do more, EFSF and ESM are not enough," Gurria said, referring to the European Financial Stability Facility and European Stability Mechanism.
 
"The ECB should start unlimited bond buying, the sooner the better," Gurria said. - Reuters



Tags: Currency | OECD | ECB | Euro zone |

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