FXstreet.com (Barcelona) - The President of the European Council Herman Van Rompuy declared on Wednesday his absolute support for ECB's intervention and criticized the elevated risk premiums of some of the Eurozone countries. He also praised reforms introduced by Spain and Italy.
Herman Van Rompuy told reporters that he would unconditionally back ECB's actions aimed at preserving the euro and at evading the fragmentation of financial markets. He expressed satisfaction with the austerity measures implemented by Spain and Italy and with Greece's, Portugal's and Ireland's efforts to make their labor markets more flexible.
The President of the European Council also stated that the excessively elevated risk premiums of some of the Eurozone countries are unjustified.
Herman Van Rompuy told reporters that he would unconditionally back ECB's actions aimed at preserving the euro and at evading the fragmentation of financial markets. He expressed satisfaction with the austerity measures implemented by Spain and Italy and with Greece's, Portugal's and Ireland's efforts to make their labor markets more flexible.
The President of the European Council also stated that the excessively elevated risk premiums of some of the Eurozone countries are unjustified.
