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ECB to keep focus on price stability

12-15-2011 15:50 BJT

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As the market reacts to yet another EU summit that's failed to resolve the eurozone debt crisis, Germany's leaders and the European Central Bank are urging for stricter budget discipline and to forget about a one-shot solution.

German Chancellor Angela Merkel and the ECB's governing Council member Jens Weidmann seperately rebuffed pressure for the ECB to intervene decisively to stop the crisis escalating.

Merkel told parliament on Wednesday it would take years, not weeks, to overcome the debt problems but Europe will emerge stronger.

Weidmann made clear his opposition to ramping up purchases of troubled euro zone states' bond.

Weidmann, who also heads Deutsche Bundesbank, spoke during an event in Berlin commemorating 10 years of the euro, and noted that the ECB will not shift its focus on price stability, and that politicians should now concentrate on implementing the decisions taken at the recent EU summit.



Editor:Liu Fang |Source: CNTV.CN

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