ECB's Padoa-Schioppa: no danger of deflation

Tommaso Padoa-Schioppa of the ECB was quoted Monday as saying speculation over deflation was alarmist and that the central bank stands ready to act if necessary.

Source: Reuters

European Central Bank board member Tommaso Padoa-Schioppa was quoted on Monday as saying there was no danger of deflation in the euro zone and that a stronger euro did not hurt growth in the zone.

Asked whether there was a risk of deflation in an interview with Italian newspaper La Repubblica, Padoa-Schioppa denied there