Bloomberg News

Stark Says ECB ‘Doing What It Can’ to Tackle Europe Debt Crisis

October 21, 2011

Oct. 21 (Bloomberg) -- European Central Bank Executive Board member Juergen Stark said the institution is playing its part in fighting Europe’s sovereign debt crisis.

“We do what we can at the side of the ECB to tackle the crisis as far as the mandate is concerned,” Stark said during an event in Warsaw today. “Some are concerned that we have gone beyond the mandate and are at least close to the red line.”

Stark added that the “logic of the Maastrict Treaty” which set up the single currency is still correct, in that it prohibits the monetary financing of states by the central bank.

To contact the reporter on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net

To contact the editor responsible for this story: Katya Andrusz at kandrusz@bloomberg.net


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