Asmussen trumpets progress on European debt stabilisation


Jörg Asmussen, a member of the European Central Bank's (ECB) executive board, on October 11 said the eurozone's fiscal consolidation is significantly ahead of some other advanced economies.

Speaking at the annual meetings of the IMF/World Bank Group, Asmussen said the process of debt stabilisation is "well under way", and noted the International Monetary Fund's projection that the eurozone will be almost in primary balance this year, with an average debt level at just over 90% of GDP.


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