The chief of the National Bank of Austria and ECB governing council member Ewald Nowotny argued that happens with Greece is more of a «political matter» that an economic one.
When further pressed about the ongoing negotiations between the Greek government and its partners, Mr. Nowotny responded that it was too soon to comment and provide details on the talks.
The Austrian central banks underlined that the European Central Bank will do it can, from a numismatic policy side, in order to help bring stabilization to the Eurozone and added that the next steps from the governments must be politically based.
Mr. Nowotny explained that although there is a market demand for “Eurobonds”, there is a series of technical difficulties that do not allow the ECB to issue such bonds. Finally, he warned that measures must be taken to avert any asset bubbles in the markets due to low interest rates.
