Moscovici says ECB's bond-buying plan in 'interests of all eurozone'
[BERLIN] European Union economics chief Pierre Moscovici welcomed the European Central Bank's new government bond-buying programme in a German newspaper interview on Friday, noting that there was a risk of deflation in the eurozone.
"I believe that Mr (Mario) Draghi acted in the interests of the eurozone as a whole," Mr Moscovici told Handelsblatt, referring to the ECB president and the move to pump hundreds of billions of euros into the sagging eurozone economy.
"It's not there yet (deflation) but it's better to try to prevent it," added Mr Moscovici, formerly France's finance minister.
He said that it was also "absolutely necessary" to continue structural reforms in eurozone countries and said there were still incentives to do that despite the ECB bond-buying programme.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Philippines denies deal with China over disputed South China Sea shoal
When US diplomats visit China, meal choices are about more than taste buds
China’s first-quarter industrial profits rise at slower pace
Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports