ECB’s Mersch Says Emergency Powers Must Be Temporary: Interview

Following is a transcript of an interview with European Central Bank Executive Board member Yves Mersch conducted on Sept. 21.

I must say that since the last time we took action, the least one could say is that things in the economy have not gone for the worse. And even with sometimes conflicting incoming information, most of it has led us to say that the risk balance may still be somewhat to the downside but less so than it has been, and that led us to no change because we said we are broadly in line with our baseline.