European Central Bank policymaker Ignazio Visco said on Saturday recent expansio...
FILE PHOTO - Bank of Italy Governor Ignazio Visco speaks to reporters during the G20 Finance Ministers and Central Bank Governors Meeting in Fukuoka, Japan June 9, 2019. Franck Robichon/Pool via REUTERS
Earlier this month the ECB, in Mario Draghi’s last policy meeting as the central bank’s chief, pledged new indefinite stimulus to revive an ailing euro zone economy, a decision opposed by a third of the policymakers. Visco, the governor of the Italian central bank, added that experience gathered during the global financial crisis and the sovereign debt crisis taught that “in these circumstances excessive prudence is counter-productive”.
This week, Sabine Lautenschlaeger, a German member of the ECB’s board, decided to step down in what was seen as a further backlash against the latest stimulus measures.
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