Brussels, 05/09/2014 (Agence Europe) - The chair of the European Parliament's economic and monetary affairs committee, Roberto Gualtieri (S&D, Italy), has welcomed the European Central Bank's decision on Thursday 4 September to reduce its main interest rates to a record low (see EUROPE 11148).
In a press release, Gualtieri says the decision is welcome because very low inflation in the eurozone is having a negative impact on the member states' economies and their budget situations. He also welcomed the launch in October of a securities purchase programme based on securitised assets and bonds but feels the ECB should introduce wider-scale unconventional measures in the near future.
The Italian Socialist MEP says the ECB cannot stimulate the economy on its own and concerted political action is required at all levels at the same time, in the form of structural reforms, flexibility under the EU's budget rules and investment to stimulate demand.
Parliament's economic and monetary affairs committee will hold a monetary dialogue meeting with the head of the ECB, Mario Draghi, in Brussels on Monday 22 September. (MB)