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Euro Zone Summit: Bond buying plan there to be used - Cœuré

Wednesday, February 27, 2013 - 03:10

Feb. 27 - The ECB's bond-purchase programme is ''not a nuclear deterrent'' and is available for use says Executive Board Member Benoît Cœuré.

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I'm Paul -- -- is in Frankfurt and I'm joined by Ben Walker re a member of the executive board of the European Central Bank. Mister curry and his affair in the terrorism periphery that crisis could flare up again. And dial to being conclusive Italian elections. Is the ECB looking at the Italian election and the resulting government with concern. Wait and Nixon's law but it factories and equipment. But it takes. We. And reform process. That you oppressors. 22. And you know the EC b.'s ONT program has taken a lot of heat out of the crisis. ECB policy makers and our view that the warranties look at the nuclear deterrent it's best if it's never used. -- -- Are yet to be used it's -- no choice of countries and governments themselves to a to decide on -- they -- music on not. That's what I can say about we've device went -- is so that they can be used. You can't marry drug he says the ECB's top priority is to improve these transmission. Of monetary policy cross -- and is monetary policy still him in -- and if improving their transmission mechanism is a priorities the priority does that mean that a rate cut is off the table. Prosecution use a priority. It is yeah as the most important sentence that should be spacing and probably will be facing into -- -- -- So we have to find ways to improve completion. It's not party's hands of the ECB. There is risk he's an economy. Don't. To be able put an end trust -- -- -- restored in the open market system. And you should beside the we have the quote continues -- review. Our instruments and but to ago -- or framework. Two know what he's working with networking and if we can improve we improve. OK and finally turning to your own country Frans. The German ECB policy makers. In -- mom and your -- some have been pushing for France to reduce its deficit to 3% of GDP. This year to work really hard to do that. Do you agree with them is is that achievable or France should -- be given more time. I think they both thought secure rights to two highlights two to remind as -- commitments that have been taken as French government's. Such and these. -- -- deficit should be as close as possible to 3%. In some Turkey in including for corrective measures. And our -- shrewd. Shrewd maintains that he -- -- it's the medium term program. And by taking -- -- -- Are resolute I would say and and far reaching measures to to Europe for but expanding its. And are really I think it seems dangerous of credibility of government to have these measures as concrete as possible. And coming fast and it's possible musicals that there.