ECB Has Flexibility for Bigger Role in Crisis, MNS Reports

Nov. 30 (Bloomberg) -- Some European Central Bank policy makers are open to expanding the bank’s role in fighting the sovereign debt crisis, Market News International reported, citing unidentified people.

“The mood on the Council is shifting,” the news agency quoted one Eurosystem official as saying. “Even some traditionally more hawkish national central banks” are “open to a more pro-active role.”

At the same time, Market News reported that members willing to do more face resistance from a German-led contingent that may make larger-scale bond purchases or other forms or assistance harder to push through. The ECB “stands ready” to cut interest rates further if necessary, MNS reported.

To contact the reporter on this story: Jeff Black in Frankfurt at

To contact the editor responsible for this story: Craig Stirling at