Feb. 28 (Bloomberg) -- European Central Bank Governing Council member Ewald Nowotny said the ECB’s second 3-year loan to be allotted tomorrow should have a greater effect on the real economy than the first operation.

“The first one was really for the banks to get their house in order,” Nowotny said during a speech in London today. “The second will have an even more direct effect for the real economy.”

To contact the reporter on this story: Gabi Thesing in London at gthesing@bloomberg.net

To contact the editor responsible for this story: Jeff Black at jblack25@bloomberg.net