ECB’s Stark: central bank’s more likely to react to asset-price growth
Jürgen Stark, a member of the European Central Bank's executive board, on Tuesday discussed the new normal in Europe after the current sovereign debt crisis and said central banks were more likely to lean against the wind when unsustainable asset-price developments emerge.
Speaking at an event in Frankfurt, Stark said: "What can be said with some certainty is that in the ‘new normal' financial markets will function more smoothly than today and economic growth will in general be on a sustainable
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