The European Central Bank's council member and Belgian central bank governor Jan Smets gave a quick statement to Bloomberg reporters in Brussels regarding the Euro's outlook.

Key quotes:

  • "The period of extremely low volatility on financial markets has apparently come to an end, but we are of the opinion that the events we've seen in the past few weeks are unlikely to affect the economic fundamentals, which are sound, on condition political leaders stay the course and continue to enact policies that are adequate for their own economies,"
  • "Is the strength of the euro a reason for concern? No, not to the extent that the move reflects economic fundamentals. But if the volatility turns excessive, for example as a consequence of devaluation policies meant to regain competitiveness, problems may arise"
  • "The ECB's confidence in its ability to reach its goal of price stability is full: we will get there. But as the President has said many times, we need to remain patient, and persistent in our forward guidance"
  •  

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