ECB Shouldn’t Act Before Irish Reform, Katainen Says
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The European Central Bank shouldn’t withdraw support measures including record-low interest rates and emergency liquidity until Ireland has restructured its banks, Finnish Finance Minister Jyrki Katainen said.
“Once we have restructured the banking sector, then the ECB can act again,” Katainen said in an interview in Helsinki yesterday. “The banking sector must be restructured, otherwise help by anybody is impossible.”