Speculation has been rife as to if and when the Bank will start a U.S -style sovereign bond-buying program to stimulate the euro zone economy and quell deflationary pressures. The ECB has already launched a slew of measures to ease credit conditions in the region, including cutting interest rates to record lows and announcing plans to purchase covered bonds and asset-backed securities (ABS).
Read MoreECB’s Draghi: Buying sovereign bonds is an option
Stark said he doubted whether the covered bond and ABS purchases would boost the ECB’s balance sheet by the aimed for 1 trillion euros ($1.2 trillion)—and would therefore push the governing council to approve sovereign bond buying.
“We don’t want war, we want peace. We are fighting for EU values. Russia doesn’t respect any agreement.”
via CNBC
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