17 Jan 2014
ECB's Knot: Poor EU economic conditions shouldn't give rise to excessive pessimism
FXstreet.com (Łódź) - ECB Governing Council member Klaas Knot said on Friday in Amsterdam that the current unsatisfactory economic situation in the Eurozone should not give rise to excessive pessimism.
The ECB lawmaker and Dutch National Bank chief admitted that some of the advanced economies, including that of the Netherlands, have not regained the pre-crisis stability yet, but stressed that we shouldn't become too pessimistic for this reason.
"Our society is very innovative and we have the capacity to surprise on the upside," he stated.
Furthermore, Knot commented on the challenges which the financial crisis had generated for central bankers, saying that they required innovation in the monetary policy strategy such as keeping rates at low levels. He expressed satisfaction with ECB's efforts to "support effective demand."
The ECB lawmaker and Dutch National Bank chief admitted that some of the advanced economies, including that of the Netherlands, have not regained the pre-crisis stability yet, but stressed that we shouldn't become too pessimistic for this reason.
"Our society is very innovative and we have the capacity to surprise on the upside," he stated.
Furthermore, Knot commented on the challenges which the financial crisis had generated for central bankers, saying that they required innovation in the monetary policy strategy such as keeping rates at low levels. He expressed satisfaction with ECB's efforts to "support effective demand."