Weber says heterogeneity in euro area not an issue

Central Banking Newsdesk
06 Jul 2011

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Heterogeneity of countries in the euro area is a challenge for monetary policy but not an issue as long as members meet their obligations to the currency union, Axel Weber, the former president of the Bundesbank, said in a paper published on Friday.

The paper, based on a speech delivered at the Homer Jones Memorial Lecture, organised by the St Louis Federal Reserve on April 13, says: "The real problem with heterogeneity – and that is a concern to me – is that a number of countries have obviously

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