- CNTV English - CCTV News

Homepage > News > Biz >

ECB official says Grexit expensive but "manageable"

08-20-2012 19:05 BJT

FRANKFURT, Aug. 20 (Xinhua) -- A Greek exit from the eurozone would be "manageable," even though it would result in higher unemployment and huge economic losses, a n European Central Bank (ECB) policymaker was quoted as saying on Monday.

"First, My preference is clear. Greece should stay in the eurozone," Joerg Asmussen, a German member of the ECB's Executive Board, said in an interview with German newspaper Frankfurter Rundschau.

"Second, it is in Greece's hands to achieve that. Third, a Greek exit would be manageable. Fourth, an exit would not be as orderly as some imagine," he said.

Asmussen also said the new bond purchase program was better designed than its predecessors, and that it was also compatible with the mandate of the ECB.

He said it would be good to see the European Financial Stability Facility and European Stability Mechanism to intervene in the primary market before the ECB's purchase.

The governing council of the ECB would then independently decide if, when and how bonds should be purchased on the secondary market, he said.

Asmussen's comments echoed the ECB president Mario Draghi earlier remarks on August 2 that the ECB could take outright open market operations of a size adequate to reach its objective. He also said that necessary conditions should be met before the ECB takes action.


Editor:James |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program