Euro an anchor of stability: Austria’s Nowotny
The decade since the introduction of the euro has proven that a currency union can ensure price stability and foster trade flows within the area, said Ewald Nowotny, the governor of the Austrian National Bank, in a speech last Wednesday.
In opening remarks to a conference in Vienna on the euro's role in economic stability, Nowotny said that on 2008 figures, euro-area economic activity could potentially outstrip that of the US in the future, despite having less purchasing power at present. He
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