EPP Group welcomes ECB's QE programme but warns that reform and fiscal consolidation should continue
I think these Quantitative Easing measures announced today by the ECB are part of the solution, they are not the solution. We need also to support these measures announced by the ECB with reforms and fiscal policy in Member States.
If Members states do not do the reforms these measures announced by the ECB will not have the effect we all expect. These measures have not to be chance of Members States to avoid reforms on fiscal consolidation process. (0.44- 1.00)
Will this measure be enough to stave off deflation?
The importance about the announcement made today is the policy mix. The monetary policy cannot support the growth and the job creation by itself. It needs to be supported by reforms and fiscal policies.
Is this measure coming too late?
No, I don't think they are coming too late. I firmly believe that the president of the ECB is doing a good job at this respect I think that it comes in the proper moment, in the right context, and I have no doubt that will have a very positive effect in the European economy.
Ioannis ZografosEPP TV Managing ProducerBelgiumIoannis.email@example.com+32(0) 2 284 18 45