ECONOMY - FINANCE - BUSINESS / (ae) euro

ECB will not do the work of national governments

Brussels, 09/10/2012 (Agence Europe) - The special Outright Monetary Transactions (OMT) recently announced by the European Central Bank (ECB) will not be a substitute for struggling countries getting finance from the money markets and will not replace measures to be taken by government, explained the head of the ECB, Mario Draghi, on Tuesday 9 October at a hearing at the European Parliament's Economic and Monetary Affairs Committee. He said the OMT would not lead to an overall increase in...