ECB's Visco warns over reform of European Stability Mechanism

ROME (Reuters) – European Central Bank governing council member Ignazio Visco warned on Friday that moves to reform the European Stability Mechanism need to be carefully considered and could do more harm than good.

“The small and uncertain benefits of a debt restructuring

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27 ноября 2019 03:55

mechanism must be weighed against the huge risk that the mere announcement of its introduction may trigger a perverse spiral of expectations of default, which may prove to be self-fulfilling,” Visco said in a speech in Rome.

(Reporting By Gavin Jones)