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Moscovici says ECB's bond-buying plan in 'interests of all eurozone'

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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.

[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

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