Europe will not wait for Spain to implement rate increases when the time comes
| Date: November 13, 2009 | Source: Sources |
| Category: Economy | |
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Loading ... The European Central Bank (ECB) will raise interest rates when it considers that the time has come and will not condition its decision that some countries, like Spain, are still in recession. This was confirmed today Jose Manuel Gonzalez-Paramo, a member of the governing council of the institution before participating in a conference entitled Europe before casually out of the crisis: Responses and Challenges. " However, he qualified that this price increase will take place "at the right time and when upside risks to price stability so warrant." ECB President Jean-Claude Trichet said last week that interest rates will remain for now at 1%.
Gonzalez-Paramo has been suggested that the most affected by an eventual upturn in the price of money will be those nations' lagging in their recovery. " The eurozone has officially left the recession behind us , with the notable exception of Greece, Cyprus and Spain to make matters worse would be "the last member of the eurozone to enter the economic recovery," suggest from Brussels. ECB Governing Council member has no doubt that the Spanish economy may emerge from recession. For him the question is when. And so far, "goes a little late," he noted, "while other countries have already gone."
In addition, said to be to check the strength with which Spain could emerge from the recession, as "not just any growth rate creates jobs, and that is the key to the situation.
