Bloomberg News

ECB’s Kranjec Says Europe’s Fiscal Accord Is ‘Good Achievement’

December 12, 2011

Dec. 12 (Bloomberg) -- European Central Bank governing council member Marko Kranjec said the fiscal accord reached by European leaders last week is a “good achievement.”

“We couldn’t have expected more since radical changes were achieved in terms of harmonizing public finances,” Kranjec, also a governor of Slovenia’s central bank, said in an interview with public broadcaster TV Slovenija tonight.

“I am not surprised that ratings services aren’t happy with the deal, but I wouldn’t give them such importance. Ratings services are using their assumptions, which in some cases are very prudent,” Kranjec said. “Markets will realize that this deal in Brussels will importantly contribute to the stabilization and will stop the crisis in the euro region.”

--Editors: Ben Livesey, John Simpson

To contact the reporter on this story: Boris Cerni in Ljubljana at bcerni@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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