Bloomberg News

Moscovici Says ECB Has ‘Major Role to Play’ to Combat Crisis

July 19, 2012

French Finance Minister Pierre Moscovici said the European Central Bank has a “major role to play” in fighting Europe’s debt crisis.

The Frankfurt-based ECB is fulfilling its role by providing liquidity to banks and helping promote financial stability in the region, Moscovici said to reporters today in Washington. European policy makers “made huge progress in the last months, we did that with the support of the ECB.”

Decisions at the European summit last month must be implemented, he said. “The role of the ECB is certainly pivotal.”

To contact the reporter on this story: Sandrine Rastello in Washington at

To contact the editor responsible for this story: Christopher Wellisz at

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