Bloomberg News

ECB’s Nowotny Says No Direct ECB Funds Will be Used for EFSF

October 10, 2011

Oct. 10 (Bloomberg) -- European Central Bank Governing Council member Ewald Nowotny said the bank won’t directly fund the European rescue fund.

“Given the situation as it is now there has been a clear understanding that no direct ECB funds will be used,” Nowotny told reporters in Vienna today. He said he doesn’t see the need to renegotiate the decisions taken on July 21.

To contact the reporter on this story: Zoe Schneeweiss in Vienna at

To contact the editor responsible for this story: Christian Vits at

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