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19 Apr 2013
German FinMin suggests ECB should reduce liquidity in EMU
FXstreet.com (Barcelona) - In an interview for the German weekly business news magazine Wirtschafts Woche German finance minister Wolfgang Schäuble urged the European Central Bank to reduce liquidity.
“There is a lot of money in the market, in my opinion too much money,” Mr Schäuble stated. “If the ECB tries to exploit leeway to reduce the large liquidity a little, I can only welcome this.”
The German finance minister also reminded that the debt crisis in the Eurozone was not over yet and that many countries were still in a “precarious economic state.”
Following his comments the euro hit a high of 1.3116.
“There is a lot of money in the market, in my opinion too much money,” Mr Schäuble stated. “If the ECB tries to exploit leeway to reduce the large liquidity a little, I can only welcome this.”
The German finance minister also reminded that the debt crisis in the Eurozone was not over yet and that many countries were still in a “precarious economic state.”
Following his comments the euro hit a high of 1.3116.