LONDON, Feb 21 (Reuters) - The euro zone's measures for short-term crisis resolution go far enough and do not need big adjustments, European Central Bank policymaker Axel Weber said on Monday.
'Existing instruments for short-term crisis resolution are adequate and, despite repeated demands to the contrary, should not undergo significant adjustment,' Weber wrote in a guest column for the Financial Times.
Weber, the departing Bundesbank president, also said there is a danger in cutting interest rates on future euro zone rescue loans, as that could introduce eurobonds 'through the back door.'
(Reporting by Karolina Tagaris; Editing by Andrew Hay) Keywords: EUROZONE/WEBER (karolina.tagaris@thomsonreuters.com; +44 207 542 4878) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'Existing instruments for short-term crisis resolution are adequate and, despite repeated demands to the contrary, should not undergo significant adjustment,' Weber wrote in a guest column for the Financial Times.
Weber, the departing Bundesbank president, also said there is a danger in cutting interest rates on future euro zone rescue loans, as that could introduce eurobonds 'through the back door.'
(Reporting by Karolina Tagaris; Editing by Andrew Hay) Keywords: EUROZONE/WEBER (karolina.tagaris@thomsonreuters.com; +44 207 542 4878) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.