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Image header Agence Europe
Europe Daily Bulletin No. 10663
ECONOMY - FINANCE - BUSINESS / (ae) ecb

Ewald Nowotny does not oppose idea of giving ESM a bank licence

Brussels, 25/07/2012 (Agence Europe) - “I think there are pro arguments for this”, (this being giving the European Stability Mechanism - ESM, the eurozone's new bailout fund, a bank licence) said Ewald Nowotny, member of the European Central Bank's Governing Council, in an interview with Bloomsberg on Wednesday 25 July. This would give the ESM, which currently has a budget of €500 billion, access to the ECB's virtually unlimited coffers. Nowotny said: “There are also other arguments,...

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