Published: Fri, 27 Feb 2009 12:14:14 +0100
Fiscal Stimulus Plans Must Have Long-Term Considerations, Says ECB's Weber
(CEP News) Frankfurt - European Central Bank member Axel Weber said stimulus plans must take into consideration the long-term budgetary impact.
"We know very well that a confidence-inspiring reaction from increasing the deficit depends first of all on fiscal room for manoeuvre," Weber said at a panel discussion in Madrid on Friday.Weber also noted persisting growth and inflation differentials within the euro zone and blamed them on "inappropriate" national policies.
"There are some parts of inflation and output growth differentials that are not just transitory, which are quite persistent," Weber said.
Written by CEP News European Staff, eunews@economicnews.ca, edited by Stephen Huebl, shuebl@economicnews.ca
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