Padoa-Schioppa: Lower rates would not boost growth

ECB executive board member Tommaso Padoa-Schioppa was quoted in an interview as saying that the central bank's current monetary policy can't be blamed for slow growth in the eurozone and lower interest rates are not the answer.

In an interview with the Italian daily Il Sole 24 Ore, Padoa-Schioppa said interest rates are at their lowest level for the last 50 years and "no-one can argue that if they were lower European growth would follow a golden track".

"Frankly, I don't believe that the proble

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