Bloomberg News

ECB’s Stark Says Bigger Rescue Packages May Not Be Solution

November 07, 2011

Nov. 7 (Bloomberg) -- European Central Bank Executive Board member Juergen Stark said increasing the size of rescue packages may not solve Europe’s sovereign debt crisis.

“I don’t know whether the policy of an ever increasing figure, of ever increasing rescue packages are really the solution to the problem,” Stark said at a panel discussion in Lucerne, Switzerland. “Giving funds to other countries is a way to buy time.”

Stark also said Ireland is “seen in a different light” to Greece because “there was a political consensus for necessary reforms.”

To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net

To contact the editor responsible for this story: Gabi Thesing at gthesing@bloomberg.net


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