ECB Chief Asks Gov'ts to Help Growth 11/22 06:18
FRANKFURT, Germany (AP) -- The new president of the European Central Bank,
Christine Lagarde, says better-targeted public spending would help support
economic growth in the eurozone.
In her first official speech Friday, Lagarde indirectly chided countries
like Germany that have kept a tight grip on their budgets while making clear
that a spendthrift approach to public spending would be hazardous, too.
Lagarde said "there is today a cross-cutting case for investment in a common
future that is more productive, more digital and certainly greener" and warned
that public spending in the 19-country eurozone "remains some way below its
She also said the ECB will begin a strategic review of its monetary policy
"in the near future" but the bank would also "continuously monitor the side
effects" of its current low-interest stance.