Bloomberg News

Noyer Says ECB Is at Limit of Mandate, Won’t Abstain From Crisis

October 24, 2011

Oct. 24 (Bloomberg) -- European Central Bank governing council member Christian Noyer said that the ECB has pushed its mandate to the limit by intervening in bond markets, though it will continue to meet its responsibilities.

“We intervened in a certain number of debt markets,” Noyer said today on BFM radio. “We were at the limit of what we could do under our mandate.”

“This doesn’t mean that the ECB will abstain,” he added. “We’ll continue to meet our responsibilities.”

To contact the reporter on this story: Mark Deen in Paris at markdeen@bloomberg.net

To contact the editor responsible for this story: Mark Deen at markdeen@bloomberg.net


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