Irish economic woes won't change ECB policy | housefund.co.uk

Irish economic woes won’t change ECB policy

The President of the European Central Bank, Jean-Claude Trichet has said that the current economic problems being experienced in Ireland as well as in Spain and Portugal will not distract the bank for it’s economic policy.

Speaking to the Irish Times Mr Trichet said that “monetary policy must be optimal at the level of the whole euro area - exactly like the Fed (US) would not look at what is in the interest of Missouri, California or Texas.”

“The only goal of the ECB is to ensure price stability in the medium term. By anchoring inflation and curbing inflationary expectations, the ECB strategy underpins a financial environment favourable to job creation and sustainable economic growth.”