ECB’s Lipstok Says Euro Economy Compares Favorably With Others

European Central Bank Governing Council member Andres Lipstok said critics of Europe should be aware that the single currency area’s economic performance compares favorably with other advanced nations.

“When criticizing Europe, it is worth to bear in mind that the key indicators of the euro-area economy and public finances compared to other advanced industrial countries are the same, if not better off,” Lipstok, who is the governor of Estonia’s central bank, said in an opinion article published in Aeripaeev newspaper. “This is despite the fact that the decision-making process in Europe somewhat differs from that of the United States, because the primary goal is always finding a common ground.”

Lipstok added that the ECB provides enough liquidity for stable economic development, and that price stability is “the best central banks can do to secure long-term economic growth.”

To contact the reporters on this story: Jeff Black in Frankfurt at jblack25@bloomberg.net; Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Matthew Brockett at mbrockett1@bloomberg.net