The European Central Bank won’t provide more long-term loans until it has studied how the funds are distributed into the economy, council member Joerg Asmussen told newspaper Helsingin Sanomat.
Germany sees no need to increase the European Financial Stability Facility from the current 440 billion euros ($635 billion), Deputy Finance Minister Joerg Asmussen said in an interview with CNBC television.
Germany would back lower interest rates on bailout loans in return for a commitment across the euro region to tackle debt and boost competitiveness, Deputy Finance Minister Joerg Asmussen said.
German Deputy Finance Minister Joerg Asmussen won the support of the European Parliament’s Economic and Monetary Affairs Committee to succeed Juergen Stark at the European Central Bank.
European Central Bank council member Joerg Asmussen said the region’s governments must make use of the calm period in the markets created by the central bank’s three-year loans.
German Deputy Finance Minister Joerg Asmussen was appointed by euro-area finance ministers to replace Juergen Stark on the European Central Bank’s Executive Board.
German Deputy Finance Minister Joerg Asmussen rejected the suggestion that there was a crisis of leadership in Europe over Greece and said the euro will have “a very long life.”
German Deputy Finance Minister Joerg Asmussen said Greek workers will have to accept wage cuts even as their government reduces spending and raises taxes to restore public finances.
German Deputy Finance Minister Joerg Asmussen said he expects a more “multipolar” currency system in the future, Financial Times Deutschland reported, citing an interview.
"Publishing the minutes of Governing Council meetings would be an important element of a richer communication strategy. In my personal view, the minutes, summarizing the main policy discussions, should include who voted for what, and the reasoning behind that vote."
- Joerg Asmussen on Sep 12, 2013