The European Central Bank is more determined than ever to help the recession-hit euro zone economy, ECB Vice President Luis de Guindos said on Thursday, days after a German court sought to place limits on its powers.
Facing an unprecedented threat from the German Constitutional Court, the comments from de Guindos suggest the ECB has no plans to hold back stimulus, even as it risks losing Germany as a participant in asset buys.
“We remain more determined than ever to ensure supportive financial conditions across all sectors and countries to allow this unprecedented shock to be absorbed,” de Guindos told the European Parliament’s Committee on Economic and Monetary Affairs. Responding to questions about the court case, de Guindos said the ECB falls under the jurisdiction of the European Court of Justice, a comment suggesting the ECB may not engage the German court at all.
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