October 22, 2011Merkel says ECB's sole mission is monetary stability
Chancellor Angela Merkel said on Saturday that the European Central Bank has just one mission -- to ensure monetary stability.
Merkel said in a speech to her Christian Democrats in Braunschweig on Saturday that treaties prevent the ECB from taking on any other tasks, such as those such as the U.S. Federal Reserve have.
She also said it would not make any sense to ban ratings agencies from analysing countries.
Earlier, government sources said the proposal to use the ECB in strenghtening the EFSF has been definitely taking off the negotiating table ahead of an EU summit in Brussels on Sunday.
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